L3Harris Technologies (NYSE:LHX) Shares Down 0.3% on Insider Selling

Shares of L3Harris Technologies, Inc. (NYSE:LHX) fell 0.3% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $217.20 and last traded at $217.77. 109,337 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 915,678 shares. The stock had previously closed at $218.45.

Specifically, insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LHX. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a research report on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Citigroup lifted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Price Performance

The company has a market capitalization of $40.05 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 1.91 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average price of $243.07 and a 200 day moving average price of $234.66.

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

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.20%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of LHX. OneDigital Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 40 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after buying an additional 42 shares during the period. Blossom Wealth Management boosted its holdings in L3Harris Technologies by 1.7% during the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after buying an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares during the period. Finally, Archer Investment Corp increased its stake in shares of L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. 84.76% of the stock is owned by 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.