Northwestern Mutual Wealth Management Co. Lowers Stock Holdings in L3Harris Technologies Inc $LHX

Northwestern Mutual Wealth Management Co. cut its holdings in L3Harris Technologies Inc (NYSE:LHX) by 1.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 154,139 shares of the company’s stock after selling 2,668 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in L3Harris Technologies were worth $44,791,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Allstate Corp lifted its position in L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company’s stock worth $4,106,000 after buying an additional 7,219 shares during the period. Swiss National Bank boosted its stake in L3Harris Technologies by 7.1% in the 1st quarter. Swiss National Bank now owns 549,029 shares of the company’s stock worth $189,497,000 after buying an additional 36,320 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in L3Harris Technologies by 6.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,810,186 shares of the company’s stock valued at $531,416,000 after buying an additional 110,423 shares during the period. Atria Investments Inc grew its holdings in L3Harris Technologies by 77.9% in the 4th quarter. Atria Investments Inc now owns 14,800 shares of the company’s stock valued at $4,345,000 after buying an additional 6,482 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of L3Harris Technologies by 22.3% during the 1st quarter. Bank of America Corp DE now owns 1,917,732 shares of the company’s stock valued at $661,905,000 after acquiring an additional 350,313 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 1.2%

Shares of LHX opened at $262.97 on Wednesday. L3Harris Technologies Inc has a 12 month low of $258.54 and a 12 month high of $379.23. The stock’s 50-day moving average is $284.54 and its two-hundred day moving average is $316.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The stock has a market cap of $48.97 billion, a PE ratio of 26.56, a P/E/G ratio of 1.16 and a beta of 0.50.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Wednesday, July 29th. The company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Equities analysts forecast that L3Harris Technologies Inc will post 11.88 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 annualized dividend and a yield of 1.9%. L3Harris Technologies’s dividend payout ratio (DPR) is 50.51%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LHX shares. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. UBS Group dropped their price target on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Susquehanna cut their price target on shares of L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating on the stock in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Tuesday, August 18th. Finally, BNP Paribas Exane lowered their price objective on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $360.45.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.