Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells 3,178 Shares of Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $212.58 on Wednesday. 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 stock has a market cap of $40.03 billion, a PE ratio of 27.01, a PEG ratio of 2.42 and a beta of 0.74. The company’s fifty day moving average is $209.17 and its 200 day moving average is $227.41. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74.

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

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $1.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.26%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is presently 60.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies during the fourth quarter valued at about $27,000. Roxbury Financial LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LHX. Deutsche Bank Aktiengesellschaft reduced their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research report on Tuesday, November 26th. Truist Financial lowered their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. UBS Group boosted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus 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.