Capstone Triton Financial Group LLC Boosts Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Capstone Triton Financial Group LLC increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,785 shares of the company’s stock after purchasing an additional 76 shares during the quarter. Capstone Triton Financial Group LLC’s holdings in L3Harris Technologies were worth $1,075,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LHX. Sei Investments Co. lifted its position in L3Harris Technologies by 3.7% during the second quarter. Sei Investments Co. now owns 177,819 shares of the company’s stock valued at $39,933,000 after buying an additional 6,305 shares during the period. Pacer Advisors Inc. lifted its position in L3Harris Technologies by 1.2% during the 2nd quarter. Pacer Advisors Inc. now owns 13,593 shares of the company’s stock valued at $3,053,000 after acquiring an additional 166 shares during the period. AE Wealth Management LLC boosted its stake in L3Harris Technologies by 64.0% during the second quarter. AE Wealth Management LLC now owns 2,772 shares of the company’s stock worth $623,000 after acquiring an additional 1,082 shares in the last quarter. Bridges Investment Management Inc. boosted its stake in L3Harris Technologies by 813.1% during the second quarter. Bridges Investment Management Inc. now owns 9,158 shares of the company’s stock worth $2,057,000 after acquiring an additional 8,155 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in L3Harris Technologies by 1.6% in the second quarter. Canada Pension Plan Investment Board now owns 117,041 shares of the company’s stock worth $26,285,000 after purchasing an additional 1,896 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LHX has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their target price for the company from $245.00 to $257.00 in a report on Friday, July 26th. Barclays boosted their target price on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $247.08.

Insiders Place Their Bets

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at $10,951,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 10,527 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $230.00, for a total transaction of $2,421,210.00. Following the completion of the sale, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at $10,951,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,402 shares of company stock valued at $6,861,855. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Stock Up 1.2 %

LHX opened at $233.21 on Friday. The stock has a market capitalization of $44.24 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 1.95 and a beta of 0.73. The firm has a 50 day moving average price of $231.36 and a 200-day moving average price of $221.77. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.97 EPS. Equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is 75.32%.

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.