Twin Tree Management LP Cuts Stock Holdings in L3Harris Technologies Inc $LHX

Key Points

• Twin Tree Management LP has reduced its holdings in L3Harris Technologies by 18.6% in the second quarter, now owning 22,850 shares worth approximately $5.73 million.
• Analysts have shown a positive outlook, with multiple firms increasing their price targets for L3Harris Technologies, placing an average target price at $287.63 and a consensus rating of "Moderate Buy."
• L3Harris Technologies is set to pay a quarterly dividend of $1.20 per share on December 5th, translating to an annual yield of 1.7%.

Twin Tree Management LP decreased its position in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 18.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,850 shares of the company's stock after selling 5,230 shares during the quarter. Twin Tree Management LP's holdings in L3Harris Technologies were worth $5,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Gold Investment Management Ltd. raised its holdings in shares of L3Harris Technologies by 108.4% in the 2nd quarter. Gold Investment Management Ltd. now owns 1,738 shares of the company's stock worth $437,000 after purchasing an additional 904 shares during the period. BankPlus Trust Department grew its stake in L3Harris Technologies by 6.9% in the 2nd quarter. BankPlus Trust Department now owns 5,854 shares of the company's stock valued at $1,468,000 after buying an additional 379 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of L3Harris Technologies by 20.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 193,381 shares of the company's stock valued at $48,508,000 after purchasing an additional 33,019 shares during the period. Oppenheimer Asset Management Inc. boosted 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 worth $926,000 after purchasing an additional 216 shares during the period. Finally, US Bancorp DE lifted its holdings in shares of L3Harris Technologies by 1.6% in the second quarter. US Bancorp DE now owns 344,112 shares of the company's stock worth $86,317,000 after buying an additional 5,526 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LHX shares. Truist Financial increased their target price on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a "buy" rating in a research note on Wednesday. Barclays raised their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Weiss Ratings reiterated a "buy (b-)" rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Robert W. Baird upped their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Susquehanna increased their price target on shares of L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a research 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 MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and an average target price of $287.63.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 195,138 shares of company stock worth $53,571,774 in the last three months. 0.72% of the stock is currently owned by insiders.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $289.76 on Thursday. 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 firm has a market capitalization of $54.21 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.19 and a beta of 0.76. The business has a fifty day simple moving average of $282.73 and a two-hundred day simple moving average of $254.39. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The company had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. During the same period last year, the company posted $3.24 EPS. L3Harris Technologies's revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies's payout ratio is presently 53.63%.

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.

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