L3Harris Technologies, Inc. (NYSE:LHX) Insider Ross Niebergall Sells 2,988 Shares

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• 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.
• On Tuesday, September 3rd, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The shares were sold at an average price of $236.68, for a total value of $707,199.84.

L3Harris Technologies Stock Performance

Shares of LHX traded down $0.41 during mid-day trading on Monday, reaching $247.07. The company had a trading volume of 790,672 shares, compared to its average volume of 911,082. The stock has a market capitalization of $46.86 billion, a P/E ratio of 39.03, a PEG ratio of 2.12 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $239.07 and a two-hundred day moving average of $229.39. L3Harris Technologies, Inc. has a 52-week low of $179.56 and a 52-week high of $258.89.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 EPS. On average, analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. L3Harris Technologies’s payout ratio is currently 73.30%.

Institutional Trading of L3Harris Technologies

Several institutional investors and hedge funds have recently made changes to their positions in LHX. Meeder Asset Management Inc. raised its position in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the third quarter worth about $36,000. EntryPoint Capital LLC grew its stake in L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of L3Harris Technologies by 77.7% in the second quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. acquired a new position in L3Harris Technologies during the 2nd quarter worth $45,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $240.00 to $300.00 in a research report on Thursday. Barclays lifted their price target on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

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.