Northwestern Mutual Wealth Management Co. Sells 2,668 Shares of L3Harris Technologies Inc $LHX

Northwestern Mutual Wealth Management Co. trimmed its stake in L3Harris Technologies Inc (NYSE:LHX) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,139 shares of the company’s stock after selling 2,668 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.08% of L3Harris Technologies worth $44,791,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Cedar Mountain Advisors LLC increased its position in L3Harris Technologies by 1,233.3% in the first quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after buying an additional 74 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at about $25,000. Tower View Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at about $29,000. Fideuram Asset Management Ireland dac bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $25,000. Finally, Motiv8 Investments LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $25,000. 84.76% of the stock is owned by institutional investors.

L3Harris Technologies Trading Down 1.3%

Shares of LHX opened at $267.03 on Friday. The firm has a market cap of $49.72 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. L3Harris Technologies Inc has a 1 year low of $262.68 and a 1 year high of $379.23. The company has a 50 day simple moving average of $289.65 and a two-hundred day simple moving average of $320.67.

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

L3Harris Technologies Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BNP Paribas Exane dropped their price target on shares of L3Harris Technologies from $330.00 to $310.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Sanford C. Bernstein lowered their target price on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. UBS Group dropped their target price on shares of L3Harris Technologies from $312.00 to $298.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Truist Financial upgraded L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

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.