Assetmark Inc. Purchases 916 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Assetmark Inc. increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,572 shares of the company’s stock after acquiring an additional 916 shares during the period. Assetmark Inc.’s holdings in L3Harris Technologies were worth $3,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in L3Harris Technologies during the 4th quarter worth approximately $425,000. Laffer Tengler Investments Inc. grew its stake in L3Harris Technologies by 21.6% in the 4th quarter. Laffer Tengler Investments Inc. now owns 29,487 shares of the company’s stock worth $6,201,000 after buying an additional 5,246 shares in the last quarter. Victory Capital Management Inc. grew its stake in L3Harris Technologies by 132.4% in the 4th quarter. Victory Capital Management Inc. now owns 280,540 shares of the company’s stock worth $58,992,000 after buying an additional 159,806 shares in the last quarter. Keybank National Association OH grew its stake in L3Harris Technologies by 17.6% in the 4th quarter. Keybank National Association OH now owns 15,621 shares of the company’s stock worth $3,285,000 after buying an additional 2,343 shares in the last quarter. Finally, Horan Capital Advisors LLC. purchased a new position in L3Harris Technologies in the 4th quarter worth approximately $367,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 3.1 %

Shares of LHX opened at $220.47 on Friday. The stock has a market capitalization of $41.52 billion, a P/E ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $208.94 and a two-hundred day simple moving average of $227.64. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 net margin of 7.04% and a return on equity of 13.11%. On average, research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.18%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Insiders Place Their Bets

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now directly owns 6,812 shares in the company, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 4,901 shares of company stock worth $1,059,757. 0.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. Royal Bank of Canada reissued a “sector perform” rating and issued a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, January 31st. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $289.00 to $267.00 in a research note on Wednesday, January 8th. Truist Financial cut their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research note on Friday, January 31st. UBS Group boosted their price target on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.