L3Harris Technologies, Inc. (NYSE:LHX) Insider Jon Rambeau Sells 3,178 Shares

L3Harris Technologies, Inc. (NYSE:LHX) insider Jon Rambeau sold 3,178 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at $632,122. This represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

L3Harris Technologies Stock Performance

Shares of LHX traded down $1.94 during mid-day trading on Monday, reaching $218.16. The company’s stock had a trading volume of 1,844,361 shares, compared to its average volume of 928,729. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The business has a 50-day simple moving average of $209.13 and a two-hundred day simple moving average of $227.53. The stock has a market cap of $41.08 billion, a P/E ratio of 27.72, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities research analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a dividend of $1.20 per share. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies’s payout ratio is presently 60.99%.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently bought and sold shares of LHX. Meeder Asset Management Inc. grew its position in shares of L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies during the 4th quarter worth $27,000. Archer Investment Corp lifted its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $30,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research reports. Truist Financial cut their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating for the company in a research report on Friday. 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 report on Wednesday, January 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

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.