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

TrinityPoint Wealth LLC lifted its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 6.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,126 shares of the company’s stock after buying an additional 181 shares during the quarter. TrinityPoint Wealth LLC’s holdings in L3Harris Technologies were worth $744,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. KCM Investment Advisors LLC boosted its stake in L3Harris Technologies by 43.8% in the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after acquiring an additional 5,868 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of L3Harris Technologies by 17.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 43,838 shares of the company’s stock valued at $9,845,000 after purchasing an additional 6,634 shares during the period. Edgestream Partners L.P. grew its stake in L3Harris Technologies by 151.6% during the 1st quarter. Edgestream Partners L.P. now owns 3,859 shares of the company’s stock worth $822,000 after buying an additional 2,325 shares during the last quarter. Creative Planning increased its position in L3Harris Technologies by 1.2% during the third quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after buying an additional 512 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in L3Harris Technologies in the second quarter valued at approximately $210,886,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LHX shares. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Barclays raised their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Truist Financial upped 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. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $267.50.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 8,964 shares of company stock valued at $2,179,119 in the last 90 days. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Stock Down 0.6 %

Shares of NYSE LHX opened at $244.27 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $243.46 and a 200 day moving average price of $232.52. L3Harris Technologies, Inc. has a 52 week low of $184.34 and a 52 week high of $265.74. The stock 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 (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping 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 quarter in the previous year, the company earned $3.19 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

About L3Harris Technologies

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.