L3Harris Technologies, Inc. (NYSE:LHX) Holdings Boosted by Assetmark Inc.

Assetmark Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% in the third quarter, Holdings Channel.com reports. The firm owned 17,656 shares of the company’s stock after purchasing an additional 100 shares during the period. Assetmark Inc.’s holdings in L3Harris Technologies were worth $4,200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in L3Harris Technologies by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after acquiring an additional 2,606,267 shares during the period. Price T Rowe Associates Inc. MD increased its stake in L3Harris Technologies by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock valued at $2,052,411,000 after buying an additional 45,845 shares during the period. Bank of New York Mellon Corp lifted its position in L3Harris Technologies by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after buying an additional 523,315 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after buying an additional 27,763 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 2.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock valued at $334,429,000 after acquiring an additional 31,686 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 1.0 %

Shares of LHX opened at $261.62 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a 50-day simple moving average of $241.43 and a 200-day simple moving average of $231.15. L3Harris Technologies, Inc. has a 52 week low of $182.01 and a 52 week high of $265.74. The firm has a market capitalization of $49.62 billion, a P/E ratio of 41.73, a P/E/G ratio of 2.17 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $3.19 EPS. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $1.16 per share. The ex-dividend date is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.77%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last quarter. Corporate insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LHX shares. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Susquehanna upped their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup upped their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada raised their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $267.50.

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.