Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $740,814.84 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the sale, the insider now owns 10,340 shares in the company, valued at approximately $2,563,596.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $244.68, for a total value 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 Trading Up 2.2 %

NYSE:LHX opened at $256.45 on Thursday. The firm has a 50-day simple moving average of $239.97 and a 200-day simple moving average of $229.89. L3Harris Technologies, Inc. has a one year low of $179.56 and a one year high of $260.00. The firm has a market cap of $48.64 billion, a P/E ratio of 40.51, a P/E/G ratio of 2.06 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

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

L3Harris Technologies Dividend Announcement

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 paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.81%. L3Harris Technologies’s payout ratio is 73.30%.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. OneDigital Investment Advisors LLC raised its stake in L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after acquiring an additional 40 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the period. RFG Advisory LLC lifted its stake in L3Harris Technologies by 3.1% during the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after acquiring an additional 43 shares during the period. Blossom Wealth Management increased its stake in shares of L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after acquiring an additional 43 shares during the period. Finally, Nicholas Hoffman & Company LLC. lifted its position in L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock valued at $322,000 after purchasing an additional 43 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LHX has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $275.00 to $257.00 in a report on Friday, August 9th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup upped their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

About L3Harris Technologies

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.