Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells 1,764 Shares of Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 shares were sold at an average price of $244.68, for a total value of $731,103.84.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $212.37 on Friday. The firm has a market capitalization of $40.28 billion, a P/E ratio of 33.55, a PEG ratio of 1.91 and a beta of 0.72. The business has a 50-day moving average of $238.96 and a 200-day moving average of $234.31. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 1 year low of $200.18 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.19 earnings per share. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.18%. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LHX. Truist Financial raised their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.13.

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its position in shares of L3Harris Technologies by 236.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of L3Harris Technologies by 29.9% in the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after buying an additional 178,407 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after acquiring an additional 171,420 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock worth $40,580,000 after acquiring an additional 169,878 shares during the period. Finally, Mizuho Markets Americas LLC lifted its position in L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after acquiring an additional 166,262 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.