Narwhal Capital Management Has $15.31 Million Holdings in L3Harris Technologies Inc $LHX

Narwhal Capital Management increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 15.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,128 shares of the company’s stock after buying an additional 6,759 shares during the period. L3Harris Technologies accounts for 1.1% of Narwhal Capital Management’s holdings, making the stock its 20th biggest holding. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $15,310,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kiker Wealth Management LLC raised its position in shares of L3Harris Technologies by 137.0% in the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after acquiring an additional 63 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in L3Harris Technologies during the third quarter worth approximately $34,000. Twin Peaks Wealth Advisors LLC bought a new stake in L3Harris Technologies in the second quarter worth approximately $34,000. Nova Wealth Management Inc. acquired a new position in L3Harris Technologies in the first quarter valued at approximately $26,000. Finally, Harbor Asset Planning Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter worth approximately $32,000. Institutional investors own 84.76% of the company’s stock.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Up 3.2%

Shares of NYSE LHX opened at $336.07 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95. The company has a 50-day moving average price of $290.29 and a 200-day moving average price of $281.53. The stock has a market capitalization of $62.86 billion, a P/E ratio of 36.10, a P/E/G ratio of 2.04 and a beta of 0.66. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $338.23.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business posted $3.34 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 17th were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 51.56%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Truist Financial increased their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. BNP Paribas Exane assumed coverage on L3Harris Technologies in a research report on Tuesday, November 18th. They issued a “neutral” rating and a $290.00 target price for the company. Finally, UBS Group upped their price target on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Thirteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $302.29.

About L3Harris Technologies

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.