Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells 2,988 Shares of Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 Trading Down 0.6 %

Shares of NYSE LHX traded down $1.55 during trading on Thursday, reaching $243.11. The company had a trading volume of 691,889 shares, compared to its average volume of 936,561. The stock has a market cap of $46.11 billion, a P/E ratio of 39.72, a PEG ratio of 2.04 and a beta of 0.73. The company’s fifty day moving average price is $231.34 and its 200-day moving average price is $223.13. The company has a quick ratio of 0.74, a current ratio of 0.90 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a 12 month low of $160.25 and a 12 month high of $247.33.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the firm posted $2.97 EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts expect that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio is presently 75.32%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank of Canada lowered L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Wells Fargo & Company lowered their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Susquehanna upped their price target on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Finally, Barclays raised their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.54.

Institutional Trading of L3Harris Technologies

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after purchasing an additional 2,692,771 shares during the period. Wellington Management Group LLP grew its position in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after buying an additional 1,138,549 shares during the period. Manning & Napier Advisors LLC bought a new stake in L3Harris Technologies in the 2nd quarter valued at about $210,886,000. Envestnet Asset Management Inc. raised its stake in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in L3Harris Technologies by 296.8% in the fourth quarter. Point72 Asset Management L.P. now owns 725,228 shares of the company’s stock valued at $152,748,000 after acquiring an additional 542,453 shares during the period. Institutional investors own 84.76% of the company’s stock.

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.