Ross Niebergall Sells 1,373 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,373 shares of L3Harris Technologies 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 owns 5,049 shares in the company, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 value of $376,878.60.
• On Monday, December 16th, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The stock was 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 shares were 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 transaction of $731,103.84.

L3Harris Technologies Stock Performance

L3Harris Technologies stock opened at $210.28 on Thursday. The company’s 50-day moving average price is $236.77 and its 200-day moving average price is $234.13. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $39.88 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (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 the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.19 earnings per share. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders 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 yield of 2.21%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of L3Harris Technologies by 13.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,209 shares of the company’s stock valued at $272,000 after buying an additional 139 shares during the period. International Assets Investment Management LLC purchased a new stake in L3Harris Technologies in the second quarter worth $161,000. Rothschild Investment LLC purchased a new stake in shares of L3Harris Technologies during the second quarter valued at $139,000. IFG Advisory LLC bought a new position in shares of L3Harris Technologies in the second quarter worth about $459,000. Finally, Essex Financial Services Inc. increased its stake in L3Harris Technologies by 11.2% in the 2nd quarter. Essex Financial Services Inc. now owns 1,682 shares of the company’s stock worth $378,000 after buying an additional 169 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LHX. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research note on Tuesday, November 26th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. Citigroup upped their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Truist Financial lifted their target price on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.13.

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.