Tritonpoint Wealth LLC Purchases 15,018 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Tritonpoint Wealth LLC grew its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 1,270.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,200 shares of the company’s stock after purchasing an additional 15,018 shares during the period. Tritonpoint Wealth LLC’s holdings in L3Harris Technologies were worth $3,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in L3Harris Technologies by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of L3Harris Technologies by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after acquiring an additional 53,787 shares in the last quarter. FMR LLC boosted its position in shares of L3Harris Technologies by 11.5% during the 4th quarter. FMR LLC now owns 2,261,999 shares of the company’s stock valued at $475,653,000 after acquiring an additional 233,968 shares in the last quarter. Invesco Ltd. boosted its position in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after acquiring an additional 522,861 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of L3Harris Technologies during the 4th quarter valued at about $398,507,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider now owns 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LHX. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a “sell” rating to a “buy” rating and lifted their target price for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Truist Financial reduced their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group reduced their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, UBS Group upped their target price 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. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $258.75.

L3Harris Technologies Stock Up 2.7%

Shares of NYSE:LHX opened at $257.06 on Friday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market capitalization of $48.06 billion, a PE ratio of 32.66, a PEG ratio of 2.42 and a beta of 0.74. The company has a 50 day moving average price of $227.95 and a two-hundred day moving average price of $218.45.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.06 earnings per share. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies’s payout ratio is 56.94%.

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.