L3Harris Technologies, Inc. (NYSE:LHX) CEO Sells $8,488,800.00 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

L3Harris Technologies Stock Up 0.6 %

LHX opened at $212.50 on Thursday. The business has a 50 day moving average price of $210.75 and a 200 day moving average price of $195.98. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01. The firm has a market cap of $40.40 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company earned $3.27 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Research analysts forecast that L3Harris Technologies, Inc. will post 12.73 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $1.16 per share. The ex-dividend date was Thursday, March 7th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.18%. L3Harris Technologies’s payout ratio is 72.05%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cowa LLC bought a new stake in shares of L3Harris Technologies during the first quarter valued at approximately $26,000. Mascoma Wealth Management LLC bought a new stake in L3Harris Technologies in the third quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in L3Harris Technologies in the first quarter valued at $27,000. Transcendent Capital Group LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at $28,000. Finally, KB Financial Partners LLC grew its position in L3Harris Technologies by 96.5% in the third quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock valued at $29,000 after acquiring an additional 82 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LHX. Citigroup lifted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $184.00 to $240.00 in a research note on Friday, December 15th. Raymond James boosted their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Truist Financial lifted their price target on L3Harris Technologies from $224.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.00.

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.