L3Harris Technologies Inc $LHX Shares Purchased by Twin Lakes Capital Management LLC

Twin Lakes Capital Management LLC increased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,302 shares of the company’s stock after acquiring an additional 43 shares during the period. L3Harris Technologies makes up approximately 1.8% of Twin Lakes Capital Management LLC’s holdings, making the stock its 18th largest holding. Twin Lakes Capital Management LLC’s holdings in L3Harris Technologies were worth $3,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LHX. Brighton Jones LLC lifted its position in L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in L3Harris Technologies by 5.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after acquiring an additional 216 shares in the last quarter. Golden State Wealth Management LLC lifted its position in L3Harris Technologies by 351.3% during the 1st quarter. Golden State Wealth Management LLC now owns 898 shares of the company’s stock worth $188,000 after acquiring an additional 699 shares in the last quarter. Transcend Capital Advisors LLC lifted its position in L3Harris Technologies by 21.7% during the 1st quarter. Transcend Capital Advisors LLC now owns 2,896 shares of the company’s stock worth $606,000 after acquiring an additional 517 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in L3Harris Technologies by 8.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,868 shares of the company’s stock worth $5,166,000 after acquiring an additional 1,987 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the stock in a transaction 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 directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 195,138 shares of company stock valued at $53,571,774 over the last quarter. 0.72% of the stock is owned by company insiders.

L3Harris Technologies Price Performance

Shares of NYSE LHX opened at $293.22 on Monday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $54.86 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. The business has a 50 day simple moving average of $285.35 and a 200-day simple moving average of $259.12.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.24 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

Analyst Ratings Changes

Several research firms recently commented on LHX. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research report on Saturday. Robert W. Baird upped their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Finally, Susquehanna upped their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $287.63.

L3Harris Technologies 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.