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

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction on Monday, November 4th. The shares were sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares in the company, valued at $2,563,596.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• 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.
• 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 value of $707,199.84.

L3Harris Technologies Trading Up 1.6 %

Shares of LHX opened at $250.95 on Wednesday. L3Harris Technologies, Inc. has a fifty-two week low of $179.56 and a fifty-two week high of $258.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company’s fifty day moving average is $239.48 and its 200 day moving average is $229.71. The stock has a market capitalization of $47.60 billion, a PE ratio of 39.64, a P/E/G ratio of 2.06 and a beta of 0.72.

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

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is 73.30%.

Analyst Ratings Changes

LHX has been the topic of several analyst reports. Barclays lifted their price target on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Citigroup increased their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $267.50.

Hedge Funds Weigh In On L3Harris Technologies

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of L3Harris Technologies during the 2nd quarter worth about $210,886,000. Envestnet Asset Management Inc. grew its holdings in L3Harris Technologies by 236.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 989,340 shares of the company’s stock valued at $222,186,000 after purchasing an additional 695,582 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in L3Harris Technologies by 19.7% in the second quarter. Bank of New York Mellon Corp now owns 3,174,181 shares of the company’s stock worth $712,858,000 after purchasing an additional 523,315 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after buying an additional 171,420 shares during the period. Institutional investors own 84.76% of the company’s stock.

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.