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

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 0.00 % decrease in their position. The sale 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 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 transaction of $731,103.84.
• On Tuesday, September 3rd, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84.

L3Harris Technologies Stock Down 0.2 %

LHX stock opened at $247.07 on Tuesday. The company’s 50 day simple moving average is $239.07 and its 200-day simple moving average is $229.39. The firm has a market capitalization of $46.86 billion, a PE ratio of 39.03, a P/E/G ratio of 2.12 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $179.56 and a 12 month high of $258.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business earned $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be issued a $1.16 dividend. 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 dividend payout ratio (DPR) is presently 73.30%.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV boosted its holdings in shares of L3Harris Technologies by 17.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 9,892 shares of the company’s stock valued at $2,353,000 after purchasing an additional 1,493 shares during the last quarter. Laffer Tengler Investments Inc. raised its stake in shares of L3Harris Technologies by 2.3% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 24,241 shares of the company’s stock valued at $5,766,000 after acquiring an additional 544 shares during the period. Buckingham Capital Management Inc. raised its stake in shares of L3Harris Technologies by 0.6% in the 3rd quarter. Buckingham Capital Management Inc. now owns 10,041 shares of the company’s stock valued at $2,388,000 after acquiring an additional 63 shares during the period. GDS Wealth Management raised its stake in shares of L3Harris Technologies by 4.5% in the 3rd quarter. GDS Wealth Management now owns 76,701 shares of the company’s stock valued at $18,245,000 after acquiring an additional 3,275 shares during the period. Finally, Catalytic Wealth RIA LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth $271,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Barclays increased their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Citigroup increased their price target 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. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Truist Financial increased their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $267.50.

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.