L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $394,465.68 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the sale, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 Stock Performance

Shares of LHX stock traded down $5.03 during trading hours on Wednesday, reaching $213.42. The company had a trading volume of 1,146,532 shares, compared to its average volume of 920,037. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The business has a fifty day moving average price of $244.28 and a 200-day moving average price of $234.98. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The firm has a market cap of $40.48 billion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last issued its earnings results 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 net margin of 5.71% and a return on equity of 13.11%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $3.19 earnings per share. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is 73.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LHX. KCM Investment Advisors LLC lifted its position in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock valued at $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at about $841,000. Creative Planning grew its stake in shares of L3Harris Technologies by 1.2% during the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the period. Janney Montgomery Scott LLC purchased a new stake in L3Harris Technologies in the 3rd quarter worth approximately $35,904,000. Finally, GDS Wealth Management raised its stake in L3Harris Technologies by 4.5% during the 3rd quarter. GDS Wealth Management now owns 76,701 shares of the company’s stock worth $18,245,000 after acquiring an additional 3,275 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LHX shares. Truist Financial lifted their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Bank of America upgraded shares of 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 report on Thursday, October 31st. Citigroup upped their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research raised shares of 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, Wells Fargo & Company cut 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 analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.