Twinbeech Capital LP Invests $43.45 Million in L3Harris Technologies, Inc. (NYSE:LHX)

Twinbeech Capital LP acquired a new position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 206,609 shares of the company's stock, valued at approximately $43,446,000. Twinbeech Capital LP owned approximately 0.11% of L3Harris Technologies at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Two Sigma Advisers LP increased its position in L3Harris Technologies by 61.3% in the 4th quarter. Two Sigma Advisers LP now owns 218,700 shares of the company's stock valued at $45,988,000 after acquiring an additional 83,100 shares during the period. Two Sigma Investments LP increased its position in shares of L3Harris Technologies by 92.1% during the fourth quarter. Two Sigma Investments LP now owns 459,818 shares of the company's stock worth $96,691,000 after buying an additional 220,471 shares during the period. Texas Bank & Trust Co acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $294,000. Tidal Investments LLC increased its position in shares of L3Harris Technologies by 70.3% during the fourth quarter. Tidal Investments LLC now owns 19,378 shares of the company's stock worth $4,075,000 after buying an additional 8,001 shares during the period. Finally, Teza Capital Management LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth $764,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LHX shares. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Jefferies Financial Group dropped their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Bank of America reduced their target price on L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Citigroup lowered their price objective 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, The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and lifted their price objective for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $256.56.

L3Harris Technologies Price Performance

LHX stock traded up $6.93 during midday trading on Thursday, reaching $239.52. The company had a trading volume of 3,695,846 shares, compared to its average volume of 1,064,268. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The company has a market capitalization of $44.78 billion, a P/E ratio of 30.43, a P/E/G ratio of 2.42 and a beta of 0.72. The firm has a 50-day moving average price of $215.94 and a 200-day moving average price of $219.21.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter in the prior year, the company earned $3.06 EPS. The firm's revenue was down 1.5% on a year-over-year basis. On average, 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 Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.20 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.00%. L3Harris Technologies's dividend payout ratio (DPR) is 56.94%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 1,783 shares of the 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 completion of the sale, the insider now owns 30,620 shares of the company's stock, valued at $6,475,517.60. This represents a 5.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the 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 directly owns 2,797 shares of the company's stock, valued at $632,122. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.