Northwestern Mutual Wealth Management Co. Buys 7,710 Shares of L3Harris Technologies Inc $LHX

Key Points

• Northwestern Mutual Wealth Management increased its L3Harris Technologies stake by 4.3% in the fourth quarter, buying 7,710 shares and bringing its holdings to 187,437 shares valued at about $55.0 million.
• L3Harris beat Wall Street expectations in its latest quarterly results, reporting EPS of $2.72 on revenue of $5.74 billion, with revenue up 11.9% year over year.
• The company also announced a quarterly dividend of $1.25 per share payable June 26, while analysts currently rate the stock a Moderate Buy with an average price target of $354.75.

Northwestern Mutual Wealth Management Co. grew its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 187,437 shares of the company's stock after purchasing an additional 7,710 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.10% of L3Harris Technologies worth $55,026,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC bought a new position in L3Harris Technologies in the 3rd quarter worth $28,000. American National Bank & Trust raised its holdings in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company's stock worth $28,000 after purchasing an additional 30 shares in the last quarter. JPL Wealth Management LLC bought a new position in L3Harris Technologies in the 3rd quarter worth $29,000. Lloyd Advisory Services LLC. bought a new position in L3Harris Technologies in the 4th quarter worth $30,000. Finally, Triumph Capital Management bought a new position in L3Harris Technologies in the 3rd quarter worth $31,000. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total transaction of $676,781.00. Following the sale, the vice president directly owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. This represents a 34.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Rambeau sold 5,528 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $2,047,128.96. Following the sale, the insider directly owned 7,660 shares in the company, valued at $2,836,651.20. This trade represents a 41.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 13,987 shares of company stock valued at $5,049,149. 0.68% of the stock is owned by insiders.

Analyst Ratings Changes

LHX has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the stock an "overweight" rating in a report on Thursday, February 5th. Sanford C. Bernstein reduced their target price on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. UBS Group lowered their price target on shares of L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Finally, Citigroup lifted their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $354.75.

L3Harris Technologies Stock Performance

Shares of LHX stock opened at $314.98 on Friday. L3Harris Technologies Inc has a one year low of $237.56 and a one year high of $379.23. The company's 50-day moving average is $331.41 and its 200 day moving average is $325.91. The company has a market capitalization of $58.68 billion, a price-to-earnings ratio of 34.20, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the firm posted $2.41 EPS. L3Harris Technologies's revenue for the quarter was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies's dividend payout ratio is 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.

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