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

Assetmark Inc. increased its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,572 shares of the company’s stock after acquiring an additional 916 shares during the quarter. Assetmark Inc.’s holdings in L3Harris Technologies were worth $3,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. OneDigital Investment Advisors LLC increased its stake in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after acquiring an additional 40 shares in the last quarter. Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Sigma Planning Corp increased its stake in shares of L3Harris Technologies by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 2,613 shares of the company’s stock worth $622,000 after acquiring an additional 49 shares in the last quarter. Measured Wealth Private Client Group LLC increased its stake in shares of L3Harris Technologies by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after acquiring an additional 50 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in shares of L3Harris Technologies by 4.2% in the 3rd quarter. Avestar Capital LLC now owns 1,255 shares of the company’s stock worth $299,000 after acquiring an additional 51 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 4,901 shares of company stock valued at $1,059,757. 0.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on LHX. Morgan Stanley decreased their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $261.40.

L3Harris Technologies Stock Performance

LHX opened at $220.47 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market cap of $41.52 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.42 and a beta of 0.74. The company’s 50 day moving average is $208.94 and its 200 day moving average is $227.64. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities research analysts predict that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.18%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

L3Harris Technologies 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.