Triton Financial Group Inc Takes Position in L3Harris Technologies Inc $LHX

Key Points

• Triton Financial Group Inc has acquired a new stake in L3Harris Technologies, purchasing 5,889 shares valued at approximately $1.48 million during the second quarter.
• CEO Christopher E. Kubasik sold 83,000 shares of the company on September 12th, representing a 36.31% decrease in his position, following which he still holds shares worth about $40.7 million.
• Several analysts have raised their target prices for L3Harris Technologies, resulting in an average target price of $287.63 and a consensus rating of "Moderate Buy."

Triton Financial Group Inc acquired a new stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,889 shares of the company's stock, valued at approximately $1,477,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cyndeo Wealth Partners LLC boosted its holdings in shares of L3Harris Technologies by 2.7% during the second quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company's stock worth $350,000 after purchasing an additional 37 shares during the last quarter. Independence Bank of Kentucky grew its stake in shares of L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company's stock valued at $33,000 after acquiring an additional 40 shares in the last quarter. DB Fitzpatrick & Co Inc grew its stake in L3Harris Technologies by 1.0% in the second quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company's stock worth $1,116,000 after purchasing an additional 42 shares in the last quarter. Riverbend Wealth Management LLC increased its holdings in L3Harris Technologies by 4.3% in the second quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company's stock valued at $258,000 after buying an additional 42 shares during the last quarter. Finally, Klingman & Associates LLC increased its holdings in L3Harris Technologies by 2.2% in the second quarter. Klingman & Associates LLC now owns 1,986 shares of the company's stock valued at $498,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 145,578 shares of the company's stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on LHX. Susquehanna boosted their target price on L3Harris Technologies from $300.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, July 25th. UBS Group boosted their price target on shares of L3Harris Technologies from $262.00 to $280.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price objective 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. Citigroup upped their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Truist Financial raised their price objective on shares of L3Harris Technologies from $302.00 to $353.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.63.

L3Harris Technologies Stock Up 2.5%

L3Harris Technologies stock opened at $290.88 on Tuesday. The firm's fifty day moving average price is $283.63 and its two-hundred day moving average price is $256.66. The firm has a market capitalization of $54.42 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 2.07 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping 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 the consensus estimate of $5.31 billion. During the same quarter last year, the company earned $3.24 earnings per share. The company'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. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

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.

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