L3Harris Technologies Inc (NYSE:LHX) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 0.67% of L3Harris Technologies worth $264,199,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LHX. Invesco Ltd. increased its stake in L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after acquiring an additional 522,861 shares during the last quarter. GAMMA Investing LLC increased its position in shares of L3Harris Technologies by 18,295.3% during the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after purchasing an additional 510,438 shares during the last quarter. Vanguard Group Inc. increased its position in shares of L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock valued at $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of L3Harris Technologies by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,321,324 shares of the company's stock valued at $486,898,000 after purchasing an additional 311,886 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after purchasing an additional 289,514 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded down $0.50 during midday trading on Friday, reaching $259.60. The company had a trading volume of 954,594 shares, compared to its average volume of 1,158,524. The company has a market capitalization of $48.53 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.03 and a beta of 0.75. L3Harris Technologies Inc has a 12-month low of $193.09 and a 12-month high of $265.74. The firm's fifty day simple moving average is $242.10 and its 200-day simple moving average is $221.74. 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 (NYSE:LHX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter last year, the firm earned $3.06 EPS. The business's revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.20 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.85%. L3Harris Technologies's dividend payout ratio (DPR) is 56.94%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Citigroup increased their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Jefferies Financial Group reduced their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. UBS Group increased their target price on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $259.94.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer directly owned 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

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.