Ross Niebergall Sells 1,764 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the transaction, the insider now directly owns 6,812 shares in the company, valued at $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• 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 transaction 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 Price Performance

NYSE:LHX opened at $212.37 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market cap of $40.28 billion, a P/E ratio of 33.55, a PEG ratio of 1.91 and a beta of 0.72. The company has a fifty day moving average price of $238.96 and a 200 day moving average price of $234.31. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74.

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

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of research firms recently commented on LHX. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Citigroup raised their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Finally, Truist Financial boosted their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average price target of $269.13.

L3Harris Technologies Company Profile

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.