L3Harris Technologies Inc $LHX Stock Sold by Narwhal Capital Management

Narwhal Capital Management reduced its stake in L3Harris Technologies Inc (NYSE:LHX) by 18.2% during the 3rd quarter, Holdings Channel reports. The fund owned 33,020 shares of the company’s stock after selling 7,324 shares during the period. Narwhal Capital Management’s holdings in L3Harris Technologies were worth $7,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Miller Global Investments LLC grew its position in shares of L3Harris Technologies by 34.0% in the second quarter. Miller Global Investments LLC now owns 138 shares of the company’s stock valued at $40,000 after purchasing an additional 35 shares during the last quarter. AlTi Global Inc. increased its stake in shares of L3Harris Technologies by 4.3% during the first quarter. AlTi Global Inc. now owns 923 shares of the company’s stock worth $319,000 after purchasing an additional 38 shares during the period. Twin Lakes Capital Management LLC increased its stake in shares of L3Harris Technologies by 0.3% during the second quarter. Twin Lakes Capital Management LLC now owns 14,195 shares of the company’s stock worth $4,125,000 after purchasing an additional 38 shares during the period. Center for Financial Planning Inc. increased its stake in shares of L3Harris Technologies by 18.8% during the third quarter. Center for Financial Planning Inc. now owns 246 shares of the company’s stock worth $58,000 after purchasing an additional 39 shares during the period. Finally, Signature Equity Partners LLC lifted its holdings in L3Harris Technologies by 2.3% during the 1st quarter. Signature Equity Partners LLC now owns 1,863 shares of the company’s stock worth $643,000 after purchasing an additional 41 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $276.28 on Wednesday. The company’s 50 day moving average price is $250.52 and its two-hundred day moving average price is $302.40. L3Harris Technologies Inc has a 12-month low of $232.34 and a 12-month high of $379.23. The firm has a market cap of $51.44 billion, a PE ratio of 25.77, a PEG ratio of 1.66 and a beta of 0.47. The company has a quick ratio of 1.05, a current ratio of 1.20 and a debt-to-equity ratio of 0.45.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 29th. The company reported $3.28 EPS for the quarter, topping the consensus estimate of $2.95 by $0.33. L3Harris Technologies had a net margin of 8.76% and a return on equity of 11.49%. The company had revenue of $6.07 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same period last year, the firm earned $2.70 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that L3Harris Technologies Inc will post 12.10 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. L3Harris Technologies’s dividend payout ratio is currently 46.64%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Susquehanna reduced their price target on L3Harris Technologies from $410.00 to $350.00 and set a “positive” rating for the company in a research note on Friday, July 31st. Sanford C. Bernstein decreased their price objective on L3Harris Technologies from $346.00 to $318.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Bank of America increased their price objective on L3Harris Technologies from $325.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Argus downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, BNP Paribas Exane reduced their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $340.93.

L3Harris Technologies Profile

L3Harris Technologies is a defense and aerospace company that develops technology and systems for government and commercial customers. Its offerings include tactical communications, intelligence and surveillance systems, sensors, electronic warfare capabilities, space systems, and aviation technologies. The company also provides propulsion and related systems for defense and space applications through Aerojet Rocketdyne, which it acquired in 2023. Its products and services support missions including military communications, situational awareness, space operations, and national security.