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

Twin Lakes Capital Management LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,259 shares of the company’s stock after purchasing an additional 51 shares during the quarter. L3Harris Technologies accounts for about 1.7% of Twin Lakes Capital Management LLC’s holdings, making the stock its 19th largest holding. Twin Lakes Capital Management LLC’s holdings in L3Harris Technologies were worth $2,985,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in L3Harris Technologies by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock worth $2,058,151,000 after purchasing an additional 181,550 shares during the period. Wellington Management Group LLP raised 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 acquiring an additional 557,610 shares during the last quarter. Invesco Ltd. raised its holdings in shares of L3Harris Technologies by 5.0% during the first quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock valued at $491,323,000 after acquiring an additional 112,271 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of L3Harris Technologies by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company’s stock valued at $486,898,000 after acquiring an additional 311,886 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of L3Harris Technologies during the first quarter valued at approximately $299,157,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LHX. UBS Group increased their target price on L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, July 25th. Citigroup increased their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a report on Friday, July 25th. Robert W. Baird increased their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a report on Monday, July 14th. Finally, Truist Financial increased their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $279.47.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 72,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $271.14, for a total value of $19,522,080.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $39,472,018.92. This represents a 33.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Price Performance

LHX stock opened at $275.39 on Thursday. 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 business has a 50 day simple moving average of $270.16 and a 200-day simple moving average of $240.31. The firm has a market capitalization of $51.53 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $280.52.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) 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 analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities research analysts anticipate 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 will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, September 5th. L3Harris Technologies’s dividend payout ratio is presently 53.63%.

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.