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

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) insider Ross Niebergall sold 1,764 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the sale, the insider now owns 6,812 shares of the company's stock, valued at approximately $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value 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 transaction of $740,814.84.
• On Wednesday, October 2nd, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84.

L3Harris Technologies Price Performance

LHX stock traded down $1.22 during trading hours on Friday, hitting $212.37. 655,517 shares of the stock traded hands, compared to its average volume of 918,930. The stock has a 50-day simple moving average of $238.96 and a 200 day simple moving average of $234.22. The company has a market cap of $40.28 billion, a P/E ratio of 33.55, a P/E/G ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. The company 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 quarter in the previous year, the company posted $3.19 EPS. Equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.18%. The ex-dividend date was Monday, November 18th. L3Harris Technologies's dividend payout ratio is currently 73.30%.

Institutional Trading of L3Harris Technologies

Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 260.6% during 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 during the last quarter. Archer Investment Corp boosted its position in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after acquiring an additional 43 shares during the period. Kennebec Savings Bank acquired a new stake in L3Harris Technologies in the 3rd quarter worth $36,000. Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter worth about $57,000. Finally, Ashton Thomas Securities LLC acquired a new stake in L3Harris Technologies during the third quarter worth about $64,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wolfe Research raised shares of L3Harris Technologies from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price objective on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company decreased their target price on L3Harris Technologies from $295.00 to $287.00 and set an "overweight" rating for the company in a research report on Wednesday, December 11th. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Bank of America raised L3Harris Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.