L3Harris Technologies Inc $LHX Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its holdings in L3Harris Technologies Inc (NYSE:LHX) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,302 shares of the company’s stock after selling 1,900 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in L3Harris Technologies were worth $11,615,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Astoria Portfolio Advisors LLC. grew its stake in shares of L3Harris Technologies by 4.6% in the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 1,062 shares of the company’s stock worth $290,000 after purchasing an additional 47 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of L3Harris Technologies by 19.3% in the second quarter. Sequoia Financial Advisors LLC now owns 12,011 shares of the company’s stock worth $3,013,000 after acquiring an additional 1,946 shares in the last quarter. Lion Street Advisors LLC increased its position in shares of L3Harris Technologies by 24.2% in the second quarter. Lion Street Advisors LLC now owns 1,435 shares of the company’s stock worth $360,000 after acquiring an additional 280 shares in the last quarter. MGO One Seven LLC increased its position in shares of L3Harris Technologies by 97.1% in the second quarter. MGO One Seven LLC now owns 9,780 shares of the company’s stock worth $2,453,000 after acquiring an additional 4,818 shares in the last quarter. Finally, Welch Group LLC purchased a new position in shares of L3Harris Technologies in the second quarter worth approximately $237,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

Shares of LHX opened at $293.44 on Tuesday. The company’s 50 day moving average price is $282.05 and its 200 day moving average price is $253.82. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $308.12. The company has a market capitalization of $54.90 billion, a PE ratio of 32.79, a PEG ratio of 2.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period in the previous year, the firm posted $3.24 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Research analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on LHX. Susquehanna lifted their target price on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Truist Financial lifted their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Monday, July 14th. Robert W. Baird lifted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, Barclays lifted their target price on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $278.19.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 195,138 shares of company stock valued at $53,571,774 in the last ninety days. 0.72% of the stock is owned by insiders.

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.