7,324 L3Harris Technologies Inc $LHX Shares Sold by Narwhal Capital Management

Narwhal Capital Management trimmed its stake in L3Harris Technologies Inc (NYSE:LHX) by 18.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,020 shares of the company’s stock after selling 7,324 shares during the quarter. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $7,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of L3Harris Technologies in the second quarter valued at $5,525,806,000. State Street Corp increased its holdings in L3Harris Technologies by 2.9% during the second quarter. State Street Corp now owns 9,097,353 shares of the company’s stock worth $2,643,600,000 after buying an additional 252,662 shares during the last quarter. Wellington Management Group LLP increased its holdings in L3Harris Technologies by 7.1% during the second quarter. Wellington Management Group LLP now owns 4,707,086 shares of the company’s stock worth $1,367,832,000 after buying an additional 313,431 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in L3Harris Technologies during the second quarter worth $752,983,000. Finally, Bank of America Corp DE raised its position in L3Harris Technologies by 1.4% during the second quarter. Bank of America Corp DE now owns 1,945,342 shares of the company’s stock worth $565,297,000 after acquiring an additional 27,610 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. TD Cowen cut their price target on shares of L3Harris Technologies from $370.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Tuesday, August 18th. Royal Bank Of Canada upped their target price on shares of L3Harris Technologies from $265.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, October 30th. The Goldman Sachs Group cut their target price on shares of L3Harris Technologies from $405.00 to $361.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Finally, BNP Paribas Exane reduced their price target on L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $340.93.

L3Harris Technologies Stock Up 1.8%

LHX stock opened at $276.28 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $51.44 billion, a PE ratio of 25.77, a PEG ratio of 1.66 and a beta of 0.47. L3Harris Technologies Inc has a 1-year low of $232.34 and a 1-year high of $379.23. The business’s 50 day simple moving average is $250.52 and its 200 day simple moving average is $302.40.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 29th. The company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.33. L3Harris Technologies had a return on equity of 11.49% and a net margin of 8.76%. The business had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the prior year, the business earned $2.70 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts anticipate that L3Harris Technologies Inc will post 12.10 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, December 4th. L3Harris Technologies’s payout ratio is currently 46.64%.

L3Harris Technologies Company Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.