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

L3Harris Technologies, Inc. (NYSE:LHXGet Free Report) insider Ross Niebergall sold 1,764 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $247.93, for a total value of $740,814.84.
  • 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.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $213.55 on Friday. 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 stock’s fifty day moving average is $242.42 and its 200 day moving average is $234.57. The firm has a market capitalization of $40.50 billion, a PE ratio of 33.74, a PEG ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHXGet Free Report) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm posted $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share 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 given a dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 2.17%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LHX. Geode Capital Management LLC boosted its holdings in L3Harris Technologies by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock valued at $1,122,630,000 after acquiring an additional 59,008 shares during the period. Bank of New York Mellon Corp lifted its position in shares of L3Harris Technologies by 19.7% during the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of L3Harris Technologies by 1.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,039,832 shares of the company’s stock valued at $485,215,000 after purchasing an additional 27,763 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of L3Harris Technologies by 5.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after purchasing an additional 85,882 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in L3Harris Technologies by 2.2% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,489,129 shares of the company’s stock worth $334,429,000 after buying an additional 31,686 shares during the period. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

LHX has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $269.13.

Read Our Latest Research Report on L3Harris Technologies

About L3Harris Technologies

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for L3Harris Technologies (NYSE:LHX)

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