Assetmark Inc. Buys 4,259 Shares of L3Harris Technologies Inc (NYSE:LHX)

Assetmark Inc. lifted its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 22.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,831 shares of the company's stock after purchasing an additional 4,259 shares during the quarter. Assetmark Inc.'s holdings in L3Harris Technologies were worth $4,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Cetera Investment Advisers raised its stake in shares of L3Harris Technologies by 35.2% in the first quarter. Cetera Investment Advisers now owns 89,204 shares of the company's stock worth $18,671,000 after purchasing an additional 23,231 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of L3Harris Technologies by 7.9% in the first quarter. Avantax Advisory Services Inc. now owns 19,456 shares of the company's stock worth $4,072,000 after purchasing an additional 1,419 shares during the last quarter. Jackson Hole Capital Partners LLC raised its stake in shares of L3Harris Technologies by 5.6% in the first quarter. Jackson Hole Capital Partners LLC now owns 10,443 shares of the company's stock worth $2,186,000 after purchasing an additional 553 shares during the last quarter. SFE Investment Counsel raised its stake in shares of L3Harris Technologies by 11.4% in the first quarter. SFE Investment Counsel now owns 25,510 shares of the company's stock worth $5,339,000 after purchasing an additional 2,609 shares during the last quarter. Finally, Argonautica Private Wealth Management Inc. raised its stake in shares of L3Harris Technologies by 1.6% in the first quarter. Argonautica Private Wealth Management Inc. now owns 10,359 shares of the company's stock worth $2,168,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LHX shares. UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday. Truist Financial upped their price objective on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research report on Friday. Sanford C. Bernstein reiterated an "outperform" rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Robert W. Baird upped their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday. Finally, Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $279.47.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider directly owned 25,325 shares of the company's stock, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer directly owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. The trade was a 18.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $2.58 during mid-day trading on Tuesday, hitting $272.05. 931,001 shares of the company traded hands, compared to its average volume of 1,263,304. The firm has a market cap of $50.90 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 2.10 and a beta of 0.75. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average price is $251.91 and its 200-day moving average price is $226.31. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $280.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The business's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.24 earnings per share. Research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's payout ratio is presently 53.63%.

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.