Envestnet Portfolio Solutions Inc. Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Envestnet Portfolio Solutions Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 6.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,442 shares of the company’s stock after buying an additional 2,489 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in L3Harris Technologies were worth $8,633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bfsg LLC purchased a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $25,000. Transcendent Capital Group LLC purchased a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $28,000. EntryPoint Capital LLC increased its position in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after buying an additional 69 shares in the last quarter. Versant Capital Management Inc increased its position in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after buying an additional 80 shares in the last quarter. Finally, Sachetta LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $49,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total transaction of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares in the company, valued at approximately $27,086,585.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 15,887 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the sale, the senior vice president now owns 47,616 shares in the company, valued at approximately $11,189,760. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,312 shares of company stock valued at $24,712,822. Corporate insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on LHX shares. Susquehanna boosted their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $250.00 to $240.00 in a research report on Wednesday. Alembic Global Advisors upgraded L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays boosted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.43.

L3Harris Technologies Trading Down 0.8 %

Shares of L3Harris Technologies stock traded down $1.82 during trading hours on Wednesday, hitting $226.06. The company’s stock had a trading volume of 860,190 shares, compared to its average volume of 994,370. The firm has a fifty day moving average of $227.43 and a 200-day moving average of $218.06. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $245.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a market cap of $42.88 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 1.90 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the company earned $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. Research analysts forecast that L3Harris Technologies, Inc. will post 13.04 EPS for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

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.