Envestnet Asset Management Inc. Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Envestnet Asset Management Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,172,518 shares of the company's stock after purchasing an additional 89,859 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.62% of L3Harris Technologies worth $246,557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilltop Holdings Inc. purchased a new position in L3Harris Technologies in the third quarter valued at about $329,000. IHT Wealth Management LLC grew its position in shares of L3Harris Technologies by 4.3% in the 3rd quarter. IHT Wealth Management LLC now owns 3,355 shares of the company's stock worth $800,000 after buying an additional 137 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $119,000. Royal London Asset Management Ltd. lifted its position in L3Harris Technologies by 4.2% during the third quarter. Royal London Asset Management Ltd. now owns 87,558 shares of the company's stock valued at $20,827,000 after acquiring an additional 3,563 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in L3Harris Technologies by 19.6% in the third quarter. Quantinno Capital Management LP now owns 18,020 shares of the company's stock worth $4,287,000 after purchasing an additional 2,952 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LHX shares. Citigroup decreased their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Morgan Stanley cut their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Finally, Susquehanna cut their price target 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. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $256.94.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Edward J. Zoiss sold 1,783 shares of the company's 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 completion of the sale, the insider now directly owns 30,620 shares of the company's stock, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

L3Harris Technologies Price Performance

Shares of LHX traded up $8.27 during mid-day trading on Friday, hitting $221.78. 956,984 shares of the company were exchanged, compared to its average volume of 990,971. The stock has a market cap of $41.63 billion, a price-to-earnings ratio of 28.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a 50 day moving average of $207.40 and a 200-day moving average of $223.78. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating 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%. Analysts expect that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal 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 paid a $1.20 dividend. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Monday, March 10th. L3Harris Technologies's dividend payout ratio (DPR) 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.