Narwhal Capital Management Purchases 6,759 Shares of L3Harris Technologies Inc $LHX

Narwhal Capital Management increased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 15.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,128 shares of the company’s stock after acquiring an additional 6,759 shares during the period. L3Harris Technologies comprises 1.1% of Narwhal Capital Management’s holdings, making the stock its 20th largest holding. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $15,310,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in L3Harris Technologies by 0.5% during the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock worth $5,811,973,000 after purchasing an additional 121,619 shares during the last quarter. State Street Corp raised its holdings in shares of L3Harris Technologies by 1.2% during the 2nd quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after buying an additional 105,402 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock worth $1,236,410,000 after buying an additional 38,820 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares during the last quarter. Finally, Boston Partners boosted its stake in L3Harris Technologies by 72.1% in the second quarter. Boston Partners now owns 2,002,211 shares of the company’s stock valued at $504,160,000 after buying an additional 838,546 shares in the last quarter. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Stock Up 3.2%

NYSE:LHX opened at $336.07 on Friday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $338.23. 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 market cap of $62.86 billion, a PE ratio of 36.10, a P/E/G ratio of 2.04 and a beta of 0.66. The firm’s 50 day simple moving average is $290.29 and its 200 day simple moving average is $281.53.

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

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 17th were given 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 payout ratio is 51.56%.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer owned 144,426 shares of the company’s stock, 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 is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the subject of several research analyst reports. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Friday, October 31st. Wall Street Zen upgraded shares of L3Harris Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Citigroup started coverage on shares of L3Harris Technologies in a research report on Thursday, December 11th. They issued a “buy” rating and a $331.00 target price on the stock. Finally, BNP Paribas Exane began coverage on shares of L3Harris Technologies in a report on Tuesday, November 18th. They set a “neutral” rating and a $290.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $302.29.

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.