Triton Financial Group Inc Buys Shares of 5,823 L3Harris Technologies Inc $LHX

Key Points

• Triton Financial Group purchased 5,823 shares of L3Harris Technologies worth approximately $1.69 million, while institutional investors collectively own 84.76% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $360.45, although Jefferies downgraded the stock to “Hold” and Susquehanna cut its target to $350.
• L3Harris exceeded quarterly earnings expectations with $3.13 in EPS and $5.88 billion in revenue, up 8.4% year over year; shares opened at $261.78, and the company declared a quarterly dividend of $1.25.

Triton Financial Group Inc purchased a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,823 shares of the company's stock, valued at approximately $1,692,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LHX. BlackRock Inc. acquired a new stake in L3Harris Technologies during the second quarter worth $5,525,806,000. Capital World Investors grew its holdings in shares of L3Harris Technologies by 2.9% during the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company's stock worth $3,418,747,000 after purchasing an additional 329,910 shares during the period. State Street Corp increased its position in shares of L3Harris Technologies by 1.6% during the 4th quarter. State Street Corp now owns 8,919,368 shares of the company's stock worth $2,618,459,000 after purchasing an additional 141,442 shares during the last quarter. Geode Capital Management LLC raised its holdings in L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company's stock valued at $1,505,444,000 after buying an additional 106,430 shares during the period. Finally, Morgan Stanley raised its holdings in L3Harris Technologies by 3.9% in the 4th quarter. Morgan Stanley now owns 3,318,020 shares of the company's stock valued at $974,072,000 after buying an additional 124,797 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LHX. Jefferies Financial Group lowered shares of L3Harris Technologies from a "buy" rating to a "hold" rating and set a $315.00 target price for the company. in a research note on Wednesday. Susquehanna lowered their price objective on shares of L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating for the company in a research report on Friday, July 31st. Truist Financial raised shares of L3Harris Technologies to a "strong-buy" rating in a research report on Friday, May 1st. Weiss Ratings downgraded shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of L3Harris Technologies in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $360.45.

L3Harris Technologies Stock Down 0.4%

Shares of NYSE:LHX opened at $261.78 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.18 and a quick ratio of 1.03. The firm has a market capitalization of $48.75 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.51. The firm's 50-day moving average is $286.18 and its two-hundred day moving average is $318.19. L3Harris Technologies Inc has a 1 year low of $258.54 and a 1 year high of $379.23.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating the consensus estimate of $2.80 by $0.33. The business had revenue of $5.88 billion during the quarter, compared to analyst estimates of $5.81 billion. L3Harris Technologies had a net margin of 8.17% and a return on equity of 10.96%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.78 earnings per share. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Analysts predict that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. L3Harris Technologies's payout ratio is 50.51%.

About L3Harris Technologies

L3Harris Technologies NYSE: LHX is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company's offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.

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