L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $377,068.84 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

L3Harris Technologies Trading Down 1.4 %

Shares of LHX opened at $209.28 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $209.15 and a 200-day simple moving average of $227.28. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a market cap of $39.41 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share 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%. Equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s payout ratio is presently 60.99%.

Institutional Trading of L3Harris Technologies

Institutional investors have recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 19.4% during the 3rd quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock valued at $714,000 after acquiring an additional 487 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of L3Harris Technologies by 2.0% during the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after acquiring an additional 4,321 shares in the last quarter. Summit Global Investments acquired a new position in L3Harris Technologies in the 3rd quarter worth $334,000. Equitable Trust Co. lifted its holdings in L3Harris Technologies by 28.5% in the 3rd quarter. Equitable Trust Co. now owns 3,842 shares of the company’s stock worth $914,000 after buying an additional 851 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in L3Harris Technologies by 0.6% in the 3rd quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock worth $4,200,000 after buying an additional 100 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on LHX shares. Barclays reduced their price objective on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on shares of L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Finally, Morgan Stanley reduced their price objective on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.