L3Harris Technologies (NYSE:LHX) Stock Price Down 0.2% on Insider Selling

L3Harris Technologies, Inc. (NYSE:LHX)’s stock price traded down 0.2% during trading on Thursday after an insider sold shares in the company. The company traded as low as $212.00 and last traded at $212.97. 217,376 shares were traded during mid-day trading, a decline of 76% from the average session volume of 917,020 shares. The stock had previously closed at $213.42.

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 transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LHX. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 26th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $269.13.

L3Harris Technologies Stock Down 1.3 %

The firm has a market capitalization of $39.95 billion, a price-to-earnings ratio of 33.28, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. The business has a 50 day moving average of $243.07 and a 200 day moving average of $234.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

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

L3Harris Technologies Dividend Announcement

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

Institutional Investors Weigh In On L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in LHX. KCM Investment Advisors LLC increased its position in shares of L3Harris Technologies by 43.8% during the 3rd quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after purchasing an additional 5,868 shares in the last quarter. Fortem Financial Group LLC bought a new stake in L3Harris Technologies during the third quarter worth about $841,000. Sanctuary Advisors LLC increased its holdings in shares of L3Harris Technologies by 13.9% during the third quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after buying an additional 3,740 shares in the last quarter. Creative Planning raised its stake in shares of L3Harris Technologies by 1.2% in the third quarter. Creative Planning now owns 41,588 shares of the company’s stock valued at $9,893,000 after acquiring an additional 512 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of L3Harris Technologies in the third quarter valued at approximately $35,904,000. 84.76% of the stock is owned by institutional investors and hedge funds.

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.