L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $288,412.38 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Ross Niebergall also recently made the following trade(s):

• On Monday, December 23rd, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60.
• On Monday, December 16th, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68.
• On Monday, November 4th, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84.
• On Wednesday, October 2nd, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The stock was sold at an average price of $244.68, for a total value of $731,103.84.

L3Harris Technologies Stock Up 0.6 %

LHX traded up $1.34 during trading on Tuesday, reaching $210.28. 840,289 shares of the stock traded hands, compared to its average volume of 918,192. 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 fifty-two week low of $200.18 and a fifty-two week high of $265.74. The stock’s 50-day simple moving average is $238.17 and its two-hundred day simple moving average is $234.35. The stock has a market cap of $39.88 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) 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 firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 EPS. As a group, equities research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Institutional Trading of L3Harris Technologies

Several large investors have recently made changes to their positions in LHX. Geode Capital Management LLC raised its holdings in L3Harris Technologies by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after acquiring an additional 59,008 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of L3Harris Technologies by 1.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock worth $485,215,000 after purchasing an additional 27,763 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in L3Harris Technologies by 5.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock valued at $366,875,000 after purchasing an additional 85,882 shares during the period. Diamond Hill Capital Management Inc. increased its position in L3Harris Technologies by 2.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after buying an additional 31,686 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of L3Harris Technologies by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock worth $315,611,000 after buying an additional 156,453 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LHX. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 26th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Finally, Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.13.

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.