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

Twin Lakes Capital Management LLC grew its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 0.3% during the second quarter, Holdings Channel.com reports. The firm owned 14,302 shares of the company’s stock after buying an additional 43 shares during the quarter. L3Harris Technologies accounts for approximately 1.8% of Twin Lakes Capital Management LLC’s portfolio, making the stock its 18th biggest position. Twin Lakes Capital Management LLC’s holdings in L3Harris Technologies were worth $3,587,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LHX. Nuveen LLC acquired a new position in shares of L3Harris Technologies during the first quarter valued at $299,157,000. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of L3Harris Technologies by 946.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 784,948 shares of the company’s stock valued at $164,297,000 after purchasing an additional 709,948 shares during the period. Wellington Management Group LLP increased its holdings in shares of L3Harris Technologies by 12.2% during the first quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after purchasing an additional 557,610 shares during the period. Appaloosa LP acquired a new position in shares of L3Harris Technologies during the first quarter valued at $62,793,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of L3Harris Technologies by 60.8% during the first quarter. JPMorgan Chase & Co. now owns 767,493 shares of the company’s stock valued at $160,644,000 after purchasing an additional 290,269 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.0%

NYSE:LHX opened at $293.22 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The firm 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 stock has a fifty day simple moving average of $285.35 and a 200 day simple moving average of $259.12.

L3Harris Technologies (NYSE:LHX) last released 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. 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 during the quarter, compared to analyst estimates of $5.31 billion. During the same quarter last year, the company posted $3.24 EPS. L3Harris Technologies’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling at L3Harris Technologies

In related 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 completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LHX. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Saturday. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Royal Bank Of Canada raised their target price on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Finally, UBS Group raised their target price on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $287.63.

About L3Harris Technologies

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.