L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) insider Ross Niebergall sold 1,764 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Ross Niebergall also recently made the following trade(s):
- On Monday, November 4th, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The shares were sold at an average price of $247.93, for a total value of $740,814.84.
- 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.
L3Harris Technologies Trading Down 2.3 %
Shares of L3Harris Technologies stock opened at $213.42 on Thursday. The stock has a market cap of $40.48 billion, a P/E ratio of 33.72, a P/E/G ratio of 1.91 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a 12-month low of $200.18 and a 12-month high of $265.74. The business's 50 day moving average is $243.71 and its 200-day moving average is $234.82.
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L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 5.71% and a return on equity of 13.11%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 earnings per share. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.
L3Harris Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.17%. L3Harris Technologies's dividend payout ratio (DPR) is currently 73.30%.
Hedge Funds Weigh In On L3Harris Technologies
A number of institutional investors have recently bought and sold shares of the business. Copley Financial Group Inc. acquired a new stake in shares of L3Harris Technologies in the third quarter valued at approximately $449,000. Franklin Resources Inc. increased its holdings in shares of L3Harris Technologies by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 218,228 shares of the company's stock worth $54,171,000 after acquiring an additional 1,221 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in L3Harris Technologies by 0.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company's stock valued at $9,890,000 after acquiring an additional 194 shares during the period. Synovus Financial Corp lifted its holdings in L3Harris Technologies by 17.5% during the 3rd quarter. Synovus Financial Corp now owns 6,734 shares of the company's stock valued at $1,602,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in L3Harris Technologies during the third quarter worth $1,704,000. Institutional investors and hedge funds own 84.76% of the company's stock.
Analysts Set New Price Targets
Several analysts have commented on the stock. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a research report on Thursday, October 3rd. Argus raised shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Finally, StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $269.13.
View Our Latest Report on LHX
L3Harris Technologies Company Profile
(
Get Free Report)
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.
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