Northwestern Mutual Wealth Management Co. Raises Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Northwestern Mutual Wealth Management boosted its L3Harris Technologies stake by 23% in the fourth quarter, ending with 221,141 shares valued at about $64.9 million.
• Insider selling picked up recently, with executives Samir Mehta and Melanie Rakita selling shares; insiders have sold 16,365 shares worth about $5.86 million over the past 90 days.
• L3Harris reported strong quarterly results, beating earnings and revenue estimates, and the company also raised its full-year guidance to 11.40–11.60 EPS while maintaining a quarterly dividend of $1.25 per share.

Northwestern Mutual Wealth Management Co. increased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 23.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,141 shares of the company's stock after buying an additional 41,414 shares during the quarter. Northwestern Mutual Wealth Management Co. owned 0.12% of L3Harris Technologies worth $64,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Burns J W & Co. Inc. NY increased its stake in shares of L3Harris Technologies by 3.1% in the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company's stock worth $290,000 after buying an additional 30 shares during the period. American National Bank & Trust boosted its holdings in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company's stock valued at $28,000 after acquiring an additional 30 shares in the last quarter. Turtle Creek Wealth Advisors LLC boosted its holdings in L3Harris Technologies by 3.7% in the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company's stock valued at $253,000 after acquiring an additional 31 shares in the last quarter. Rainier Family Wealth Inc. boosted its holdings in L3Harris Technologies by 4.8% in the fourth quarter. Rainier Family Wealth Inc. now owns 700 shares of the company's stock valued at $205,000 after acquiring an additional 32 shares in the last quarter. Finally, San Luis Wealth Advisors LLC boosted its holdings in L3Harris Technologies by 5.1% in the fourth quarter. San Luis Wealth Advisors LLC now owns 705 shares of the company's stock valued at $207,000 after acquiring an additional 34 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Samir Mehta sold 5,528 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider owned 7,756 shares of the company's stock, valued at approximately $2,872,201.92. The trade was a 41.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Melanie Rakita sold 2,378 shares of the business's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $341.45, for a total value of $811,968.10. Following the completion of the transaction, the vice president directly owned 4,882 shares of the company's stock, valued at approximately $1,666,958.90. This trade represents a 32.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,365 shares of company stock valued at $5,861,117. 0.68% of the stock is owned by insiders.

Analysts Set New Price Targets

LHX has been the topic of several recent analyst reports. 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 report on Thursday, February 5th. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Argus upgraded shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, February 27th. JPMorgan Chase & Co. lifted their price target on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Finally, Sanford C. Bernstein cut their price target on shares of L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Two research 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 stock. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $354.75.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $303.56 on Monday. L3Harris Technologies Inc has a fifty-two week low of $226.47 and a fifty-two week high of $379.23. The business has a 50-day simple moving average of $342.05 and a two-hundred day simple moving average of $324.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03. The firm has a market cap of $56.55 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.51.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.53 by $0.19. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The business had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm earned $2.41 EPS. L3Harris Technologies's revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts expect that L3Harris Technologies Inc will post 11.57 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies's payout ratio is 54.29%.

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.

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