L3Harris Technologies Inc $LHX Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in L3Harris Technologies by 1,228.8% in Q1, owning 152,364 shares valued at approximately $31.9 million.
• Insider transactions include CEO Christopher E. Kubasik selling 72,000 shares valued at $19.5 million, representing a 33.09% decrease in his position.
• L3Harris Technologies recently reported Q2 earnings of $2.78 per share, exceeding estimates, and announced a quarterly dividend of $1.20 to be paid on September 22nd.

Northwestern Mutual Wealth Management Co. raised its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 1,228.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,364 shares of the company's stock after buying an additional 140,898 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.08% of L3Harris Technologies worth $31,892,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LHX. Oppenheimer Asset Management Inc. raised its holdings in L3Harris Technologies by 5.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock worth $926,000 after purchasing an additional 216 shares during the last quarter. BankPlus Wealth Management LLC increased its position in shares of L3Harris Technologies by 6.0% in the first quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after buying an additional 117 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after buying an additional 1,236 shares during the last quarter. Brighton Jones LLC boosted its position in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in L3Harris Technologies by 43.6% in the 1st quarter. American Century Companies Inc. now owns 883,782 shares of the company's stock valued at $184,984,000 after acquiring an additional 268,396 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of research reports. Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Robert W. Baird raised their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. UBS Group increased their target price on L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Finally, Susquehanna boosted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies Trading Down 0.1%

NYSE:LHX traded down $0.17 during mid-day trading on Friday, reaching $276.88. The company's stock had a trading volume of 678,737 shares, compared to its average volume of 1,410,156. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market cap of $51.80 billion, a P/E ratio of 31.01, a P/E/G ratio of 2.02 and a beta of 0.77. The company's fifty day simple moving average is $265.76 and its two-hundred day simple moving average is $235.63. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $280.52.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the firm posted $3.24 EPS. The company's revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies's dividend payout ratio (DPR) is 53.63%.

Insider Activity

In related news, CEO Christopher E. Kubasik sold 40,138 shares of L3Harris Technologies stock in a transaction on Monday, August 11th. The stock was sold at an average price of $269.52, for a total value of $10,817,993.76. Following the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $39,236,182.56. This trade represents a 21.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 145,199 shares of company stock worth $38,555,071. 0.72% of the stock is owned by insiders.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.