Tritonpoint Wealth LLC Boosts Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Tritonpoint Wealth LLC lifted its position in shares of L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 1,270.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at $398,507,000. Invesco Ltd. raised its holdings 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 worth $469,992,000 after acquiring an additional 522,861 shares in the last quarter. GAMMA Investing LLC grew its stake in L3Harris Technologies by 18,295.3% in the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $107,424,000 after purchasing an additional 510,438 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after buying an additional 289,514 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In related news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider now directly owns 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.72% of the company's stock.

L3Harris Technologies Trading Down 3.2%

Shares of NYSE:LHX traded down $8.31 during trading on Monday, hitting $248.68. 967,772 shares of the company's stock were exchanged, compared to its average volume of 1,481,771. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The firm has a 50-day moving average price of $227.95 and a two-hundred day moving average price of $218.08. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The firm has a market cap of $46.49 billion, a P/E ratio of 31.58, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.06 earnings per share. Equities analysts predict 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. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LHX shares. Wells Fargo & Company cut their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group lifted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Citigroup boosted their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Truist Financial decreased their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $258.75.

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.