Envestnet Asset Management Inc. grew its stake in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 7.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm 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 SEC filing.
A number of other institutional investors have also recently modified their holdings of LHX. Invesco Ltd. raised its holdings in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after buying an additional 522,861 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 worth $107,424,000 after buying an additional 510,438 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 worth $4,895,534,000 after buying an additional 401,168 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings 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 worth $486,898,000 after buying an additional 311,886 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in L3Harris Technologies by 64.2% in the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock worth $155,691,000 after purchasing an additional 289,514 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.
L3Harris Technologies Stock Performance
Shares of LHX traded down $0.20 during mid-day trading on Friday, hitting $259.90. The stock had a trading volume of 125,184 shares, compared to its average volume of 1,154,009. The firm has a market cap of $48.59 billion, a P/E ratio of 30.83, a PEG ratio of 2.07 and a beta of 0.75. The business has a fifty day moving average price of $241.30 and a 200-day moving average price of $221.42. 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 52 week low of $193.09 and a 52 week high of $265.74.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The business's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.06 earnings per share. On average, equities research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.
L3Harris Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.20 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.85%. L3Harris Technologies's payout ratio is presently 56.94%.
Insider Buying and Selling at L3Harris Technologies
In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the sale, the insider directly owned 25,325 shares in the company, valued at $6,204,625. The trade was a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 33,061 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 145,572 shares in the company, 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. Insiders own 0.72% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. 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 report on Monday, March 31st. Wells Fargo & Company decreased their price target on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Truist Financial increased their price target on L3Harris Technologies from $260.00 to $279.00 and gave the company a "buy" rating in a research note on Friday. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price target for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, Citigroup raised their target price on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $259.94.
Read Our Latest Stock Analysis on LHX
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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