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

Envestnet Portfolio Solutions Inc. lowered its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% in the fourth quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $33,000. New Millennium Group LLC boosted its holdings in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after buying an additional 163 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Citigroup reduced their price target on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Barclays cut their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Price Performance

Shares of LHX opened at $212.93 on Tuesday. The firm has a market capitalization of $39.97 billion, a PE ratio of 27.06, a PEG ratio of 2.42 and a beta of 0.74. The company’s 50-day moving average is $209.44 and its 200-day moving average is $226.84. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. 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 issued its quarterly earnings data 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 net margin of 7.04% and a return on equity of 13.11%. Equities analysts forecast 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 will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $1.20 dividend. The ex-dividend date is Monday, March 10th. 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 2.25%. L3Harris Technologies’s dividend payout ratio is 60.99%.

Insider Activity at L3Harris Technologies

In related news, insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares in the company, valued at approximately $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the transaction, the insider now owns 6,812 shares in the company, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,098 shares of company stock worth $1,760,588. Corporate insiders own 0.82% of the company’s stock.

About L3Harris Technologies

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.