Tritonpoint Wealth LLC Sells 247 Shares of L3Harris Technologies Inc $LHX

Tritonpoint Wealth LLC trimmed its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,953 shares of the company’s stock after selling 247 shares during the period. Tritonpoint Wealth LLC’s holdings in L3Harris Technologies were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. LVW Advisors LLC grew its holdings in L3Harris Technologies by 21.9% during the 2nd quarter. LVW Advisors LLC now owns 1,553 shares of the company’s stock worth $389,000 after acquiring an additional 279 shares in the last quarter. Townsend Asset Management Corp NC ADV bought a new position in L3Harris Technologies during the 2nd quarter worth about $218,000. Signaturefd LLC grew its holdings in L3Harris Technologies by 2.0% during the 2nd quarter. Signaturefd LLC now owns 8,765 shares of the company’s stock worth $2,199,000 after acquiring an additional 176 shares in the last quarter. Rezny Wealth Management Inc. lifted its position in shares of L3Harris Technologies by 0.8% during the second quarter. Rezny Wealth Management Inc. now owns 7,765 shares of the company’s stock valued at $1,948,000 after buying an additional 63 shares during the last quarter. Finally, Howard Capital Management Group LLC purchased a new stake in shares of L3Harris Technologies during the second quarter valued at about $203,000. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were 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 directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 195,138 shares of company stock worth $53,571,774. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $293.83 on Friday. The firm has a market capitalization of $54.97 billion, a P/E ratio of 32.83, a PEG ratio of 2.15 and a beta of 0.76. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $275.90 and a 200 day moving average price of $246.80. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $293.94.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. During the same period last year, the firm 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. Sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 53.63%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird increased 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. UBS Group increased their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Truist Financial increased their price target on shares of L3Harris Technologies from $279.00 to $302.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Finally, Royal Bank Of Canada increased their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have issued 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 an average target price of $279.47.

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.