Elevation Point Wealth Partners LLC Acquires 4,807 Shares of L3Harris Technologies Inc $LHX

Key Points

• Elevation Point Wealth Partners increased its L3Harris Technologies stake by 403.9% in the first quarter, buying 4,807 additional shares and bringing its total holdings to 5,997 shares worth about $2.07 million.
• Analysts remain generally positive on LHX, with a Moderate Buy consensus and an average price target of $354.75, though some firms recently trimmed ratings or targets.
• L3Harris reported better-than-expected earnings and revenue for the latest quarter, raised its FY 2026 EPS guidance, and also declared a quarterly dividend of $1.25 per share.

Elevation Point Wealth Partners LLC lifted its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 403.9% in the 1st quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC raised its position in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company's stock worth $901,000 after acquiring an additional 3,001 shares in the last quarter. Jump Financial LLC grew its stake in L3Harris Technologies by 14.9% in the second quarter. Jump Financial LLC now owns 2,995 shares of the company's stock valued at $751,000 after purchasing an additional 388 shares during the last quarter. NewEdge Advisors LLC grew its stake in L3Harris Technologies by 14.2% in the second quarter. NewEdge Advisors LLC now owns 17,082 shares of the company's stock valued at $4,285,000 after purchasing an additional 2,130 shares during the last quarter. Nebula Research & Development LLC bought a new position in L3Harris Technologies in the second quarter worth about $856,000. Finally, CIBC Asset Management Inc raised its holdings in L3Harris Technologies by 116.2% in the second quarter. CIBC Asset Management Inc now owns 61,988 shares of the company's stock worth $15,549,000 after purchasing an additional 33,321 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Truist Financial upgraded shares of L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Weiss Ratings cut shares of L3Harris Technologies from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 23rd. UBS Group lowered their target price on shares of 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 raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Saturday, April 11th. Finally, Sanford C. Bernstein reduced their price target on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of "Moderate Buy" and an average target price of $354.75.

Insider Buying and Selling

In related news, VP Melanie Rakita sold 2,180 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

L3Harris Technologies Trading Down 0.3%

NYSE 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 company has a fifty day simple moving average of $305.85 and a two-hundred day simple moving average 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. The stock has a market cap 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.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The firm's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, analysts forecast that L3Harris Technologies Inc will post 11.52 earnings per share for the current year.

L3Harris Technologies Announces Dividend

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

L3Harris Technologies Company 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.

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