Narwhal Capital Management Has $10.88 Million Stock Holdings in L3Harris Technologies Inc $LHX

Narwhal Capital Management trimmed its position in L3Harris Technologies Inc (NYSE:LHX) by 22.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,369 shares of the company’s stock after selling 12,404 shares during the quarter. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $10,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Brighton Jones LLC increased its position in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. Wedmont Private Capital increased its position in L3Harris Technologies by 9.8% in the first quarter. Wedmont Private Capital now owns 1,109 shares of the company’s stock worth $246,000 after purchasing an additional 99 shares during the period. Park Avenue Securities LLC increased its position in L3Harris Technologies by 24.4% in the first quarter. Park Avenue Securities LLC now owns 6,919 shares of the company’s stock worth $1,448,000 after purchasing an additional 1,359 shares during the period. Courier Capital LLC acquired a new stake in L3Harris Technologies in the first quarter worth about $266,000. Finally, Farther Finance Advisors LLC increased its position in L3Harris Technologies by 21.3% in the first quarter. Farther Finance Advisors LLC now owns 1,672 shares of the company’s stock worth $351,000 after purchasing an additional 294 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Royal Bank Of Canada boosted their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Wednesday. Finally, UBS Group boosted their target price on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Fourteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.47.

L3Harris Technologies Trading Up 1.8%

NYSE:LHX opened at $306.83 on Thursday. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $306.83. 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 capitalization of $57.41 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 2.20 and a beta of 0.76. The business’s 50-day simple moving average is $280.99 and its 200-day simple moving average is $251.50.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same quarter in the previous year, the business posted $3.24 EPS. L3Harris Technologies’s revenue for the quarter was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s payout ratio is 53.63%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Company Profile

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.