Twin Capital Management Inc. Invests $203,000 in L3Harris Technologies Inc (NYSE:LHX)

Twin Capital Management Inc. bought a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 972 shares of the company's stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. raised its stake in L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company's stock valued at $926,000 after purchasing an additional 216 shares during the last quarter. BankPlus Wealth Management LLC raised its holdings in L3Harris Technologies by 6.0% in the 1st quarter. BankPlus Wealth Management LLC now owns 2,061 shares of the company's stock valued at $432,000 after acquiring an additional 117 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of L3Harris Technologies by 21.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 7,077 shares of the company's stock worth $1,488,000 after purchasing an additional 1,236 shares during the period. Brighton Jones LLC grew its position in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock valued at $901,000 after purchasing an additional 3,001 shares during the period. Finally, Capital Analysts LLC increased its stake in L3Harris Technologies by 4.2% in the fourth quarter. Capital Analysts LLC now owns 44,510 shares of the company's stock valued at $9,360,000 after purchasing an additional 1,808 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

L3Harris Technologies Stock Down 1.5%

LHX traded down $4.09 on Friday, reaching $269.14. The company's stock had a trading volume of 562,400 shares, compared to its average volume of 1,455,775. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $280.03. The business's 50 day moving average is $250.37 and its 200 day moving average is $225.17. The stock has a market cap of $50.31 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping 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 net margin of 7.55% and a return on equity of 12.38%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.24 earnings per share. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.78%. L3Harris Technologies's dividend payout ratio (DPR) is presently 56.94%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 33,061 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer owned 145,572 shares in the company, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider owned 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. Truist Financial upped their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research report on Friday. UBS Group boosted their price objective on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a research note on Friday. Robert W. Baird increased their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday. The Goldman Sachs Group raised 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. Finally, Susquehanna raised their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $275.18.

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.