Elevation Point Wealth Partners LLC Invests $582,000 in L3Harris Technologies Inc $LHX

Elevation Point Wealth Partners LLC purchased a new stake in shares of L3Harris Technologies Inc (NYSE:LHX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,319 shares of the company’s stock, valued at approximately $582,000.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after buying an additional 3,001 shares in the last quarter. LPL Financial LLC increased its holdings in shares of L3Harris Technologies by 8.6% during the 1st quarter. LPL Financial LLC now owns 245,748 shares of the company’s stock valued at $51,437,000 after acquiring an additional 19,549 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of L3Harris Technologies by 3.4% in the 1st quarter. Foundations Investment Advisors LLC now owns 2,155 shares of the company’s stock valued at $451,000 after acquiring an additional 71 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in L3Harris Technologies in the 1st quarter worth approximately $379,000. Finally, Arkadios Wealth Advisors lifted its holdings in L3Harris Technologies by 63.4% in the 1st quarter. Arkadios Wealth Advisors now owns 2,373 shares of the company’s stock worth $497,000 after purchasing an additional 921 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Activity at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LHX. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. BNP Paribas upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Finally, Truist Financial lifted their price objective on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.00.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $277.92 on Friday. The firm’s 50-day moving average is $290.37 and its 200-day moving average is $270.76. The company has a market cap of $51.99 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 2.09 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the business earned $3.34 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies’s payout ratio is currently 51.56%.

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.