Envestnet Asset Management Inc. Boosts Holdings in L3Harris Technologies Inc $LHX

Envestnet Asset Management Inc. lifted its stake in L3Harris Technologies Inc (NYSE:LHX) by 8.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,374,242 shares of the company’s stock after purchasing an additional 112,002 shares during the period. Envestnet Asset Management Inc.’s holdings in L3Harris Technologies were worth $344,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LHX. Brighton Jones LLC lifted its position in shares of L3Harris Technologies by 233.9% in the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after purchasing an additional 3,001 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of L3Harris Technologies by 5.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,425 shares of the company’s stock worth $926,000 after purchasing an additional 216 shares during the period. Golden State Wealth Management LLC lifted its position in shares of L3Harris Technologies by 351.3% in the 1st quarter. Golden State Wealth Management LLC now owns 898 shares of the company’s stock worth $188,000 after purchasing an additional 699 shares during the period. Transcend Capital Advisors LLC lifted its position in shares of L3Harris Technologies by 21.7% in the 1st quarter. Transcend Capital Advisors LLC now owns 2,896 shares of the company’s stock worth $606,000 after purchasing an additional 517 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of L3Harris Technologies by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,868 shares of the company’s stock worth $5,166,000 after purchasing an additional 1,987 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Stock Down 0.0%

Shares of L3Harris Technologies stock opened at $293.22 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a market capitalization of $54.86 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a 52-week low of $193.09 and a 52-week high of $308.12. The company has a 50-day simple moving average of $285.35 and a two-hundred day simple moving average of $259.12.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.30. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.24 earnings per share. On average, analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s dividend payout ratio (DPR) is 53.63%.

Analyst Ratings Changes

A number of research analysts recently issued reports on LHX shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research report on Wednesday, October 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Saturday. Robert W. Baird boosted their price objective on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Royal Bank Of Canada raised their price objective on L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Finally, Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.63.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total value of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 195,138 shares of company stock valued at $53,571,774. Company insiders own 0.72% of the company’s stock.

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.