L3Harris Technologies Inc $LHX Shares Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC lifted its holdings in L3Harris Technologies Inc (NYSE:LHX) by 403.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,997 shares of the company’s stock after purchasing an additional 4,807 shares during the period. Elevation Point Wealth Partners LLC’s holdings in L3Harris Technologies were worth $2,070,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC raised its position in L3Harris Technologies by 12.9% during the fourth quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock worth $74,000 after acquiring an additional 29 shares during the period. Burns J W & Co. Inc. NY increased its stake 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 in the last quarter. American National Bank & Trust increased its stake in shares of L3Harris Technologies by 44.8% during the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after purchasing an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in shares of L3Harris Technologies by 5.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock worth $161,000 after purchasing an additional 30 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its position in shares of L3Harris Technologies by 3.7% during the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock worth $253,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LHX. UBS Group cut their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. Weiss Ratings lowered shares of L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Finally, Sanford C. Bernstein decreased their price target on shares of L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $354.75.

Insiders Place Their Bets

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the firm’s 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 sale, the vice president owned 4,192 shares of the company’s stock, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.68% of the company’s stock.

L3Harris Technologies Trading Down 0.3%

Shares of LHX opened at $301.23 on Monday. L3Harris Technologies Inc has a 12-month low of $250.02 and a 12-month high of $379.23. The firm has a market capitalization of $56.12 billion, a P/E ratio of 32.71, a P/E/G ratio of 1.53 and a beta of 0.51. The firm has a 50-day moving average price of $305.85 and a 200 day moving average price of $329.18. 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 posted its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the previous year, the business posted $2.41 EPS. L3Harris Technologies’s revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. Sell-side analysts forecast that L3Harris Technologies Inc will post 11.52 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a $1.25 dividend. The ex-dividend date was Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio is currently 54.29%.

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.