Tritonpoint Wealth LLC Trims Position in L3Harris Technologies Inc $LHX

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. LVW Advisors LLC grew its stake in shares of 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 purchasing an additional 279 shares during the period. Townsend Asset Management Corp NC ADV acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $218,000. Signaturefd LLC grew its stake in shares of 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 purchasing an additional 176 shares during the period. Rezny Wealth Management Inc. grew its stake in shares of L3Harris Technologies by 0.8% during the 2nd quarter. Rezny Wealth Management Inc. now owns 7,765 shares of the company’s stock worth $1,948,000 after purchasing an additional 63 shares during the period. Finally, Howard Capital Management Group LLC acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on LHX shares. Susquehanna raised their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Robert W. Baird lifted their price target on shares of L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, Barclays lifted their price target on shares of L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. 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 a consensus rating of “Moderate Buy” and an average target price of $279.47.

L3Harris Technologies Trading Up 1.6%

Shares of LHX stock opened at $293.83 on Friday. The stock’s fifty day moving average is $275.90 and its two-hundred day moving average is $246.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. 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. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $293.94.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same quarter in the previous year, the firm earned $3.24 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 5th. L3Harris Technologies’s payout ratio is 53.63%.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by insiders.

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.