Envestnet Portfolio Solutions Inc. Has $7.86 Million Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Envestnet Portfolio Solutions Inc. trimmed its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,387 shares of the company’s stock after selling 957 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in L3Harris Technologies were worth $7,862,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Globeflex Capital L P acquired a new stake in L3Harris Technologies in the 4th quarter worth $105,000. Frank Rimerman Advisors LLC grew its position in L3Harris Technologies by 8.3% in the 4th quarter. Frank Rimerman Advisors LLC now owns 1,425 shares of the company’s stock worth $300,000 after purchasing an additional 109 shares during the last quarter. First National Trust Co grew its position in L3Harris Technologies by 5.0% in the 4th quarter. First National Trust Co now owns 28,426 shares of the company’s stock worth $5,977,000 after purchasing an additional 1,342 shares during the last quarter. Carret Asset Management LLC grew its position in L3Harris Technologies by 3.0% in the 4th quarter. Carret Asset Management LLC now owns 18,708 shares of the company’s stock worth $3,934,000 after purchasing an additional 540 shares during the last quarter. Finally, Wellington Shields Capital Management LLC grew its position in L3Harris Technologies by 4.0% in the 4th quarter. Wellington Shields Capital Management LLC now owns 10,155 shares of the company’s stock worth $2,135,000 after purchasing an additional 386 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LHX. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Susquehanna decreased their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, Morgan Stanley decreased their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

L3Harris Technologies Trading Up 0.9 %

Shares of NYSE LHX opened at $212.93 on Tuesday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a market cap of $39.97 billion, a PE ratio of 27.06, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $209.44 and a two-hundred day moving average of $226.84.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, equities analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. L3Harris Technologies’s payout ratio is 60.99%.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,098 shares of company stock valued at $1,760,588 over the last ninety days. Insiders own 0.82% of the company’s stock.

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.