Envestnet Portfolio Solutions Inc. Boosts Holdings in L3Harris Technologies Inc (NYSE:LHX)

Envestnet Portfolio Solutions Inc. grew its position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 28.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,202 shares of the company's stock after purchasing an additional 10,815 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in L3Harris Technologies were worth $10,089,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in L3Harris Technologies during the fourth quarter worth about $398,507,000. Invesco Ltd. grew its holdings in shares of L3Harris Technologies by 30.5% during the fourth quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock worth $469,992,000 after purchasing an additional 522,861 shares in the last quarter. GAMMA Investing LLC increased its position in shares of L3Harris Technologies by 18,295.3% in the first quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock worth $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% in the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after purchasing an additional 401,168 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of L3Harris Technologies by 64.2% in the fourth 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 during the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the company's 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 completion of the transaction, the chief executive officer now owns 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider now directly owns 25,325 shares of the company's stock, valued at $6,204,625. The trade was a 7.32% decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LHX. Wells Fargo & Company decreased their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Jefferies Financial Group cut their price objective on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Citigroup upped their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. The Goldman Sachs Group upgraded L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Finally, Truist Financial cut their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Trading Down 0.8%

NYSE LHX opened at $248.78 on Friday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $230.98 and a 200-day moving average of $218.57. The firm has a market cap of $46.51 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 1.98 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion during 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%. L3Harris Technologies's quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.06 EPS. As a group, sell-side analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

L3Harris Technologies Profile

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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