Northwestern Mutual Wealth Management Co. Grows Stock Position in L3Harris Technologies Inc $LHX

Northwestern Mutual Wealth Management Co. grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 23.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 221,141 shares of the company’s stock after purchasing an additional 41,414 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in L3Harris Technologies were worth $64,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LHX. Korea Investment CORP raised its position in L3Harris Technologies by 11.2% during the third quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock valued at $46,901,000 after acquiring an additional 15,408 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in L3Harris Technologies by 13.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock valued at $9,230,000 after acquiring an additional 3,532 shares in the last quarter. Crystal Rock Capital Management bought a new position in L3Harris Technologies during the third quarter valued at approximately $1,993,000. Neo Ivy Capital Management bought a new position in L3Harris Technologies during the third quarter valued at approximately $1,203,000. Finally, Jain Global LLC raised its position in L3Harris Technologies by 469.1% during the third quarter. Jain Global LLC now owns 45,861 shares of the company’s stock valued at $14,006,000 after acquiring an additional 37,803 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of several recent research reports. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. raised their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, May 1st. Sanford C. Bernstein lowered their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Finally, Weiss Ratings upgraded L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average target price of $354.75.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the sale, the insider owned 7,756 shares in the company, valued at approximately $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jon Rambeau sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the completion of the sale, the insider owned 7,660 shares in the company, valued at approximately $2,836,651.20. The trade was a 41.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,365 shares of company stock worth $5,861,117. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Trading Up 0.1%

Shares of L3Harris Technologies stock opened at $303.56 on Monday. The company’s fifty day simple moving average is $342.05 and its 200-day simple moving average is $324.61. The company has a market cap of $56.55 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.53 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. L3Harris Technologies Inc has a 1 year low of $226.47 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.19. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. L3Harris Technologies’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.41 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.57 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $1.25 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.00 annualized dividend and a dividend yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

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.