Assetmark Inc. Grows Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Assetmark Inc. increased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,656 shares of the company’s stock after buying an additional 100 shares during the period. Assetmark Inc.’s holdings in L3Harris Technologies were worth $4,200,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc increased its stake in L3Harris Technologies by 77.7% during the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of L3Harris Technologies during the second quarter worth $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter worth about $57,000. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $261.62 on Wednesday. The stock has a market cap of $49.62 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 2.17 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies, Inc. has a 12 month low of $182.01 and a 12 month high of $265.74. The stock’s 50 day moving average price is $241.43 and its 200 day moving average price is $231.15.

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

L3Harris Technologies Dividend Announcement

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

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction 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 transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 8,964 shares of company stock valued at $2,179,119 over the last ninety days. Insiders own 0.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Citigroup upped their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their target price on L3Harris Technologies from $260.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Susquehanna boosted their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a report on Monday, July 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.50.

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.