Envestnet Asset Management Inc. Purchases 89,859 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Envestnet Asset Management Inc. increased its position in L3Harris Technologies, Inc. (NYSE:LHX) by 8.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,172,518 shares of the company’s stock after buying an additional 89,859 shares during the quarter. Envestnet Asset Management Inc.’s holdings in L3Harris Technologies were worth $246,557,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of LHX. Fortem Financial Group LLC bought a new stake in L3Harris Technologies in the 3rd quarter valued at $841,000. Czech National Bank lifted its position in shares of L3Harris Technologies by 6.4% in the fourth quarter. Czech National Bank now owns 41,124 shares of the company’s stock worth $8,648,000 after buying an additional 2,480 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the last quarter. Principal Financial Group Inc. grew its holdings in L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after buying an additional 4,321 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after acquiring an additional 3,740 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity

In other L3Harris Technologies news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. The trade was a 5.50 % 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LHX shares. UBS Group raised their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $289.00 to $267.00 in a report on Wednesday, January 8th. Truist Financial dropped their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Susquehanna decreased their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays dropped their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $260.69.

L3Harris Technologies Trading Down 3.8 %

LHX stock opened at $202.03 on Friday. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The firm’s 50-day moving average is $208.20 and its 200 day moving average is $224.79. The company has a market capitalization of $37.92 billion, a PE ratio of 25.67, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a $1.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.38%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

L3Harris Technologies Company 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.