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

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 Price Performance

NYSE LHX traded down $1.55 during trading hours on Thursday, hitting $243.11. The company had a trading volume of 691,889 shares, compared to its average volume of 936,561. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a market capitalization of $46.11 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 2.04 and a beta of 0.73. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $247.33. The firm has a 50 day simple moving average of $231.34 and a 200 day simple moving average of $223.13.

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

L3Harris Technologies Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. RFG Advisory LLC lifted its position in L3Harris Technologies by 3.1% during the second quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares during the last quarter. Optas LLC increased its holdings in shares of L3Harris Technologies by 3.3% in the 2nd quarter. Optas LLC now owns 1,381 shares of the company’s stock worth $310,000 after buying an additional 44 shares during the last quarter. Founders Financial Securities LLC raised its position in shares of L3Harris Technologies by 2.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after buying an additional 48 shares in the last quarter. Whitener Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 3.0% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after acquiring an additional 50 shares during the last quarter. Finally, Newman Dignan & Sheerar Inc. grew its position in L3Harris Technologies by 0.6% in the second quarter. Newman Dignan & Sheerar Inc. now owns 8,888 shares of the company’s stock worth $1,996,000 after acquiring an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LHX. Barclays increased their price target on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $275.00 to $257.00 in a report on Friday, August 9th. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $246.54.

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.