L3Harris Technologies Inc (NYSE:LHX) Stake Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,262,240 shares of the company's stock after acquiring an additional 89,722 shares during the quarter. Envestnet Asset Management Inc. owned about 0.67% of L3Harris Technologies worth $264,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LHX. Koshinski Asset Management Inc. raised its position in L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after purchasing an additional 50 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of L3Harris Technologies by 0.7% during the 4th quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after buying an additional 52 shares during the period. CWC Advisors LLC. raised its holdings in shares of L3Harris Technologies by 2.1% during the 4th quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after buying an additional 53 shares during the period. Citizens Financial Group Inc. RI lifted its position in L3Harris Technologies by 0.6% during the 4th quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company's stock worth $1,873,000 after acquiring an additional 54 shares in the last quarter. Finally, Riverwater Partners LLC boosted its holdings in L3Harris Technologies by 3.1% in the 1st quarter. Riverwater Partners LLC now owns 1,773 shares of the company's stock worth $371,000 after acquiring an additional 54 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction 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 sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the transaction, the chief executive officer owned 145,572 shares of the company's stock, valued at $36,171,730.56. This trade represents a 18.51% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Stock Performance

NYSE:LHX traded up $1.78 during midday trading on Thursday, reaching $260.83. 668,387 shares of the company traded hands, compared to its average volume of 1,454,706. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 2.05 and a beta of 0.75. The company has a fifty day moving average price of $240.49 and a 200 day moving average price of $221.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 0.85. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $3.06 earnings per share. On average, analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's dividend payout ratio (DPR) is 56.94%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LHX. Citigroup boosted their target price on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Jefferies Financial Group lowered their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company cut their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Finally, Truist Financial cut their target price on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $258.75.

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.