Edward J. Zoiss Sells 1,783 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Edward J. Zoiss sold 1,783 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

L3Harris Technologies Stock Down 0.9 %

Shares of NYSE:LHX traded down $1.94 during trading on Monday, reaching $218.16. 1,844,361 shares of the company traded hands, compared to its average volume of 928,729. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a market cap of $41.08 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The firm has a fifty day simple moving average of $209.13 and a 200 day simple moving average of $227.53.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a dividend yield of 2.20%. L3Harris Technologies’s payout ratio is presently 60.99%.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its stake in shares of L3Harris Technologies by 19.4% during the 3rd quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock worth $714,000 after purchasing an additional 487 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in L3Harris Technologies by 2.0% in the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares in the last quarter. Summit Global Investments acquired a new position in L3Harris Technologies during the third quarter worth $334,000. Equitable Trust Co. raised its holdings in L3Harris Technologies by 28.5% during the third quarter. Equitable Trust Co. now owns 3,842 shares of the company’s stock valued at $914,000 after buying an additional 851 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in L3Harris Technologies by 0.6% during the third quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock valued at $4,200,000 after buying an additional 100 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Bank of America reduced their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, UBS Group lifted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

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.