Elk River Wealth Management LLC Lowers Stock Holdings in L3Harris Technologies Inc $LHX

Elk River Wealth Management LLC lessened its stake in L3Harris Technologies Inc (NYSE:LHX) by 26.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,268 shares of the company’s stock after selling 8,040 shares during the period. L3Harris Technologies accounts for about 1.3% of Elk River Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Elk River Wealth Management LLC’s holdings in L3Harris Technologies were worth $7,686,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. REAP Financial Group LLC increased its holdings in shares of L3Harris Technologies by 12.9% in the fourth quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock valued at $74,000 after purchasing an additional 29 shares during the period. Burns J W & Co. Inc. NY lifted its holdings in shares of L3Harris Technologies by 3.1% during the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock worth $290,000 after purchasing an additional 30 shares during the period. American National Bank & Trust grew its position in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after buying an additional 30 shares during the last quarter. CYBER HORNET ETFs LLC increased its stake in L3Harris Technologies by 5.8% in the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock valued at $161,000 after buying an additional 30 shares during the period. Finally, Turtle Creek Wealth Advisors LLC increased its stake in L3Harris Technologies by 3.7% in the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock valued at $253,000 after buying an additional 31 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 3.1%

LHX stock opened at $285.66 on Tuesday. The company has a market cap of $53.22 billion, a P/E ratio of 31.02, a P/E/G ratio of 1.49 and a beta of 0.50. L3Harris Technologies Inc has a 52 week low of $243.84 and a 52 week high of $379.23. The company’s 50-day moving average price is $316.07 and its 200 day moving average price is $328.55. The company has a current ratio of 1.03, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period last year, the company posted $2.41 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts expect that L3Harris Technologies Inc will post 11.52 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

Wall Street Analyst Weigh In

LHX has been the subject of several recent analyst reports. Truist Financial upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Argus upgraded shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Sanford C. Bernstein lowered their price objective on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. UBS Group dropped their target price on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings raised L3Harris Technologies from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $354.75.

Insider Transactions at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of L3Harris Technologies stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the completion of the transaction, the vice president directly owned 4,192 shares of the company’s stock, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.68% of the company’s stock.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.