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

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the transaction, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ross Niebergall also recently made the following trade(s):

• On Tuesday, September 3rd, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The shares were sold at an average price of $236.68, for a total transaction of $707,199.84.

L3Harris Technologies Trading Down 0.6 %

LHX opened at $243.11 on Friday. The company has a market cap of $46.11 billion, a P/E ratio of 39.47, a PEG ratio of 2.04 and a beta of 0.73. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $231.34 and its 200-day moving average is $223.27. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $247.33.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the firm posted $2.97 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. Equities research analysts predict that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company reduced their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Susquehanna lifted their target price on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Royal Bank of Canada lowered shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.54.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock valued at $4,251,683,000 after acquiring an additional 2,692,771 shares during the period. Wellington Management Group LLP increased its holdings in L3Harris Technologies by 34.7% in the fourth quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock valued at $930,288,000 after purchasing an additional 1,138,549 shares during the period. Manning & Napier Advisors LLC bought a new position in L3Harris Technologies during the 2nd quarter worth $210,886,000. Envestnet Asset Management Inc. lifted its holdings in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock worth $222,186,000 after buying an additional 695,582 shares during the period. Finally, Point72 Asset Management L.P. grew its position in shares of L3Harris Technologies by 296.8% in the 4th quarter. Point72 Asset Management L.P. now owns 725,228 shares of the company’s stock valued at $152,748,000 after buying an additional 542,453 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

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.