L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $718,228.00 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $218.16 on Tuesday. L3Harris Technologies, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74. The stock’s 50-day moving average is $209.13 and its 200 day moving average is $227.53. The company has a market cap of $41.08 billion, a P/E ratio of 27.72, a PEG ratio of 2.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Research analysts predict that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Institutional Investors Weigh In On L3Harris Technologies

Several institutional investors have recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. boosted its holdings in L3Harris Technologies by 234.3% in the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in L3Harris Technologies in the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth about $27,000. Roxbury Financial LLC purchased a new position in shares of L3Harris Technologies in the fourth quarter worth about $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on LHX. Citigroup reduced their target price on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Truist Financial cut their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their price target on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

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.