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

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 Price Performance

L3Harris Technologies stock traded down $0.41 during mid-day trading on Monday, reaching $247.07. 790,672 shares of the company’s stock traded hands, compared to its average volume of 911,082. The company has a market cap of $46.86 billion, a price-to-earnings ratio of 39.03, a PEG 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 quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $239.07 and a two-hundred day moving average of $229.39.

L3Harris Technologies (NYSE:LHX) last issued its quarterly 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. The firm had revenue of $5.29 billion for 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%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.19 earnings per share. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The company also recently announced 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 is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.88%. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. Morgan Stanley cut L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a report on Friday, August 9th. Truist Financial increased their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Finally, StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LHX. Diversify Advisory Services LLC purchased a new position in L3Harris Technologies during the 1st quarter valued at about $448,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of L3Harris Technologies by 5.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,658 shares of the company’s stock worth $993,000 after purchasing an additional 220 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of L3Harris Technologies by 12.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 23,730 shares of the company’s stock valued at $5,057,000 after buying an additional 2,543 shares during the period. Mutual of America Capital Management LLC lifted its position in L3Harris Technologies by 1.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 38,991 shares of the company’s stock valued at $8,309,000 after purchasing an additional 678 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of L3Harris Technologies by 39.7% during the first quarter. Jennison Associates LLC now owns 2,354 shares of the company’s stock worth $502,000 after buying an additional 669 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.