Envestnet Asset Management Inc. Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Envestnet Asset Management Inc. boosted its stake in L3Harris Technologies, Inc. (NYSE:LHXFree Report) by 10.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 271,945 shares of the company’s stock after acquiring an additional 25,633 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of L3Harris Technologies worth $57,277,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. KB Financial Partners LLC lifted its stake in shares of L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Blue Trust Inc. boosted its stake in L3Harris Technologies by 178.7% during the fourth quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of L3Harris Technologies by 80.6% during the 4th quarter. Washington Trust Advisors Inc. now owns 177 shares of the company’s stock worth $37,000 after acquiring an additional 79 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies during the 4th quarter valued at about $46,000. Finally, Sachetta LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LHX. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada increased their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research report on Monday, April 22nd. Barclays upped their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $231.80.

Check Out Our Latest Research Report on L3Harris Technologies

L3Harris Technologies Stock Performance

NYSE:LHX opened at $221.40 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.98 and a quick ratio of 0.80. The firm has a market cap of $42.00 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The firm’s fifty day moving average price is $214.76 and its 200 day moving average price is $210.21. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $226.99.

L3Harris Technologies (NYSE:LHXGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.86 earnings per share. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 12.89 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.10%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders have sold a total of 120,845 shares of company stock valued at $26,577,524 in the last ninety days. 0.87% of the stock is currently owned by company insiders.

L3Harris Technologies Profile

(Free Report)

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.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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