Twin Lakes Capital Management LLC Reduces Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Twin Lakes Capital Management LLC trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,208 shares of the company’s stock after selling 166 shares during the quarter. L3Harris Technologies makes up 1.6% of Twin Lakes Capital Management LLC’s holdings, making the stock its 20th biggest position. Twin Lakes Capital Management LLC’s holdings in L3Harris Technologies were worth $2,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after acquiring an additional 401,168 shares during the last quarter. Geode Capital Management LLC boosted its stake in L3Harris Technologies by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after acquiring an additional 53,787 shares during the last quarter. FMR LLC boosted its stake in L3Harris Technologies by 11.5% in the fourth quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after acquiring an additional 233,968 shares during the last quarter. Invesco Ltd. boosted its stake in L3Harris Technologies by 30.5% in the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after acquiring an additional 522,861 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in L3Harris Technologies in the fourth quarter valued at about $398,507,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Performance

NYSE LHX opened at $237.81 on Friday. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market capitalization of $44.46 billion, a PE ratio of 30.22, a P/E/G ratio of 2.42 and a beta of 0.72. The company’s 50 day simple moving average is $216.98 and its two-hundred day simple moving average is $219.07.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the company posted $3.06 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s dividend payout ratio is presently 56.94%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LHX. JPMorgan Chase & Co. dropped their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group boosted their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research report on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Citigroup lowered their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lowered their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $256.56.

Insiders Place Their Bets

In other news, insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares in the company, valued at approximately $6,475,517.60. This trade represents a 5.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jon Rambeau sold 3,178 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Corporate 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.