Envestnet Asset Management Inc. Lowers Position in L3Harris Technologies Inc $LHX

Key Points

• Envestnet Asset Management reduced its L3Harris Technologies position by 4.2%, selling 57,766 shares and retaining 1.31 million shares valued at approximately $381.8 million. Institutional investors collectively own 84.76% of the company.
• L3Harris reported quarterly revenue of $5.88 billion and EPS of $3.13, exceeding analyst estimates, while revenue increased 8.4% year over year. The company reaffirmed fiscal 2026 EPS guidance of $11.80–$12.00.
• The stock recently traded near its 52-week low at $239.20, despite paying a quarterly dividend of $1.25, or a 2.1% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $355.92.

Envestnet Asset Management Inc. lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,313,720 shares of the company's stock after selling 57,766 shares during the quarter. Envestnet Asset Management Inc. owned about 0.71% of L3Harris Technologies worth $381,752,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $5,525,806,000. Bank of New York Mellon Corp bought a new stake in L3Harris Technologies in the 2nd quarter worth approximately $752,983,000. Artisan Partners Limited Partnership grew its position in L3Harris Technologies by 174.2% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,900,509 shares of the company's stock valued at $557,933,000 after acquiring an additional 1,207,334 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of L3Harris Technologies during the second quarter worth approximately $174,006,000. Finally, Man Group plc grew its holdings in shares of L3Harris Technologies by 5,286.7% during the 2nd quarter. Man Group plc now owns 563,720 shares of the company's stock valued at $163,811,000 after purchasing an additional 553,255 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $239.20 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.03 and a debt-to-equity ratio of 0.46. The firm has a market cap of $44.54 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.53 and a beta of 0.50. L3Harris Technologies Inc has a 1-year low of $239.00 and a 1-year high of $379.23. The firm has a 50-day moving average of $271.18 and a 200-day moving average of $304.64.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $2.80 by $0.33. L3Harris Technologies had a return on equity of 10.96% and a net margin of 8.17%.The company had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the prior year, the company earned $2.78 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.800-12.000 EPS. Sell-side analysts expect that L3Harris Technologies Inc will post 11.88 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a dividend of $1.25 per share. The ex-dividend date was Friday, September 4th. This represents a $5.00 annualized dividend and a dividend yield of 2.1%. L3Harris Technologies's payout ratio is currently 50.51%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LHX shares. UBS Group lowered their price target on shares of L3Harris Technologies from $312.00 to $298.00 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Melius Research downgraded L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Tuesday, September 8th. Weiss Ratings cut L3Harris Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, September 10th. Susquehanna reduced their price target on L3Harris Technologies from $410.00 to $350.00 and set a "positive" rating on the stock in a research report on Friday, July 31st. Finally, BNP Paribas Exane decreased their price target on L3Harris Technologies from $330.00 to $310.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $355.92.

About L3Harris Technologies

L3Harris Technologies, Inc is a global aerospace and defense technology company that develops products and systems for government and commercial customers. Its offerings support communications, intelligence, surveillance and reconnaissance, electronic warfare, space operations, missile defense, and other mission-critical applications.

The company provides tactical radios and networking equipment, secure communications systems, sensors, avionics, electronic warfare solutions, space payloads and platforms, and related command-and-control technologies.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.