Assetmark Inc. Sells 9,337 Shares of L3Harris Technologies Inc $LHX

Assetmark Inc. lessened its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 43.6% during the 3rd quarter, Holdings Channel reports. The firm owned 12,067 shares of the company’s stock after selling 9,337 shares during the period. Assetmark Inc.’s holdings in L3Harris Technologies were worth $3,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in L3Harris Technologies during the second quarter valued at approximately $34,000. Salomon & Ludwin LLC purchased a new stake in L3Harris Technologies during the third quarter valued at $34,000. Rakuten Securities Inc. grew its stake in shares of L3Harris Technologies by 234.8% in the 2nd quarter. Rakuten Securities Inc. now owns 154 shares of the company’s stock worth $39,000 after buying an additional 108 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth about $42,000. Finally, Copia Wealth Management raised its position in shares of L3Harris Technologies by 1,842.9% during the 3rd quarter. Copia Wealth Management now owns 136 shares of the company’s stock valued at $42,000 after buying an additional 129 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 0.3%

NYSE:LHX opened at $346.52 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The stock has a market capitalization of $64.72 billion, a P/E ratio of 40.62, a P/E/G ratio of 2.49 and a beta of 0.64. The company’s 50-day simple moving average is $324.34 and its 200-day simple moving average is $298.08. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $369.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the firm earned $3.47 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 56.27%.

Wall Street Analysts Forecast Growth

LHX has been the topic of a number of recent research reports. Citigroup upped their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. BNP Paribas Exane upgraded shares of L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Finally, Vertical Research reaffirmed a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $328.57.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the transaction, the insider directly owned 5,916 shares in the company, valued at approximately $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.