Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $707,199.84 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the completion of the sale, the insider now directly owns 16,316 shares of the company’s stock, valued at approximately $3,861,670.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $227.23 on Friday. L3Harris Technologies, Inc. has a 12-month low of $160.25 and a 12-month high of $245.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market capitalization of $43.10 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73. The firm’s fifty day moving average price is $230.60 and its 200 day moving average price is $220.65.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the company earned $2.97 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts forecast that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Institutional Trading of L3Harris Technologies

Several institutional investors have recently added to or reduced their stakes in LHX. Sanctuary Advisors LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $5,770,000. Brown Financial Advisors acquired a new stake in L3Harris Technologies during the second quarter valued at approximately $748,000. New Century Financial Group LLC grew its position in shares of L3Harris Technologies by 3.9% in the 2nd quarter. New Century Financial Group LLC now owns 2,193 shares of the company’s stock worth $493,000 after acquiring an additional 83 shares in the last quarter. Delphi Management Inc. MA increased its holdings in shares of L3Harris Technologies by 3.9% in the 2nd quarter. Delphi Management Inc. MA now owns 4,722 shares of the company’s stock valued at $1,060,000 after acquiring an additional 178 shares during the last quarter. Finally, Ariadne Wealth Management LP acquired a new stake in shares of L3Harris Technologies during the 2nd quarter valued at approximately $206,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LHX. Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Royal Bank of Canada downgraded L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Barclays upped 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 lowered L3Harris Technologies from a “buy” rating to a “hold” rating and lifted their price objective for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, Wells Fargo & Company dropped their target price 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. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $247.08.

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.