Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $288,412.38 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,373 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 23rd, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The stock was sold at an average price of $213.65, for a total transaction of $376,878.60.
• On Monday, December 16th, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The shares were sold at an average price of $223.62, for a total value of $394,465.68.
• On Monday, November 4th, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The stock was 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 Stock Performance

Shares of LHX opened at $207.36 on Friday. L3Harris Technologies, Inc. has a 52-week low of $200.18 and a 52-week high of $265.74. The firm has a market capitalization of $39.33 billion, a PE ratio of 32.76, a P/E/G ratio of 1.86 and a beta of 0.72. The firm has a 50-day moving average price of $236.03 and a 200 day moving average price of $233.94. 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 (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business 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 business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $3.19 earnings per share. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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 dividend of $1.16 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 annualized dividend and a yield of 2.24%. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LHX shares. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial upped their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Citigroup lifted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company cut their price objective on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.73.

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of LHX. Meeder Asset Management Inc. boosted its position in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new position in L3Harris Technologies in the third quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies in the second quarter valued at $57,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of L3Harris Technologies during the 3rd quarter valued at $64,000. 84.76% of the stock is currently 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.