L3Harris Technologies, Inc. (NYSE:LHX) Insider Jon Rambeau Sells 3,178 Shares

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) insider Jon Rambeau sold 3,178 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the transaction, the insider now directly owns 2,797 shares in the company, valued at $632,122. This represents a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

L3Harris Technologies Stock Performance

LHX stock traded up $0.24 during trading on Friday, reaching $211.42. 960,650 shares of the stock were exchanged, compared to its average volume of 927,966. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $39.81 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The stock has a 50 day simple moving average of $209.23 and a 200-day simple moving average of $227.17.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

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L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.27%. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. L3Harris Technologies's payout ratio is presently 60.99%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America dropped their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Truist Financial cut their target price on shares of L3Harris Technologies from $283.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on L3Harris Technologies from $269.00 to $268.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Citigroup decreased their price objective on L3Harris Technologies from $291.00 to $285.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $240.00 target price on shares of L3Harris Technologies in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $261.40.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently modified their holdings of LHX. Raymond James Financial Inc. acquired a new position in L3Harris Technologies during the fourth quarter worth $398,507,000. Invesco Ltd. lifted its holdings in L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after purchasing an additional 522,861 shares during the last quarter. Vanguard Group Inc. grew its stake in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after buying an additional 401,168 shares during the last quarter. Deutsche Bank AG grew its stake in shares of L3Harris Technologies by 64.2% during the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock valued at $155,691,000 after purchasing an additional 289,514 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $53,011,000. 84.76% of the stock is owned by institutional investors and hedge funds.

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.