TrinityPoint Wealth LLC Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

TrinityPoint Wealth LLC boosted its position in L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,126 shares of the company’s stock after purchasing an additional 181 shares during the quarter. TrinityPoint Wealth LLC’s holdings in L3Harris Technologies were worth $744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glass Wealth Management Co LLC lifted its stake in shares of L3Harris Technologies by 3.2% during the third quarter. Glass Wealth Management Co LLC now owns 19,265 shares of the company’s stock valued at $4,583,000 after buying an additional 605 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter worth $304,000. Schear Investment Advisers LLC acquired a new stake in shares of L3Harris Technologies during the third quarter worth $216,000. Maxwell Wealth Strategies Inc. boosted its holdings in shares of L3Harris Technologies by 30.7% during the third quarter. Maxwell Wealth Strategies Inc. now owns 8,324 shares of the company’s stock worth $2,089,000 after purchasing an additional 1,954 shares during the last quarter. Finally, Natixis Advisors LLC increased its stake in L3Harris Technologies by 5.6% in the third quarter. Natixis Advisors LLC now owns 214,938 shares of the company’s stock valued at $51,127,000 after purchasing an additional 11,404 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LHX shares. Barclays raised their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Truist Financial boosted their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company increased their price target on shares of L3Harris Technologies from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

L3Harris Technologies Trading Down 0.6 %

NYSE LHX opened at $244.27 on Tuesday. The company’s fifty day moving average price is $243.46 and its two-hundred day moving average price is $232.52. The company has a market capitalization of $46.33 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $184.34 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company posted $3.19 EPS. The business’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The trade was a 15.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 8,964 shares of company stock valued at $2,179,119. 0.82% of the stock is currently owned by company 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.