L3Harris Technologies, Inc. (NYSE:LHX) SVP Scott T. Mikuen sold 2,826 shares of the stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $225.36, for a total transaction of $636,867.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
L3Harris Technologies stock opened at $227.10 on Thursday. The company has a 50 day moving average of $219.87. The stock has a market cap of $46.55 billion, a P/E ratio of 35.26, a price-to-earnings-growth ratio of 1.87 and a beta of 0.88. L3Harris Technologies, Inc. has a 1 year low of $158.09 and a 1 year high of $228.19. The company has a quick ratio of 1.57, a current ratio of 1.78 and a debt-to-equity ratio of 0.34.
L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.26. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.62 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.01%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 EPS. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.99 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors increased its stake in L3Harris Technologies by 9.1% during the 1st quarter. Capital International Investors now owns 8,609,701 shares of the company’s stock worth $1,745,029,000 after buying an additional 716,260 shares during the period. Janus Henderson Group PLC increased its stake in L3Harris Technologies by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 8,301,442 shares of the company’s stock worth $1,569,118,000 after buying an additional 1,704,250 shares during the period. Longview Partners Guernsey LTD purchased a new stake in L3Harris Technologies during the 4th quarter worth approximately $864,584,000. Price T Rowe Associates Inc. MD increased its stake in L3Harris Technologies by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,603,794 shares of the company’s stock worth $730,417,000 after buying an additional 117,923 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in L3Harris Technologies by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,508,603 shares of the company’s stock worth $508,443,000 after buying an additional 43,764 shares during the period. 79.87% of the stock is currently owned by hedge funds and other institutional investors.
LHX has been the topic of a number of recent research reports. TheStreet lowered shares of L3Harris Technologies from a “b” rating to a “c” rating in a research report on Friday, April 30th. Benchmark reiterated a “hold” rating on shares of L3Harris Technologies in a report on Monday, May 3rd. Morgan Stanley reiterated a “buy” rating on shares of L3Harris Technologies in a report on Friday, May 14th. Jefferies Financial Group boosted their target price on shares of L3Harris Technologies from $235.00 to $250.00 and gave the company a “buy” rating in a report on Monday, May 3rd. Finally, Credit Suisse Group boosted their target price on shares of L3Harris Technologies from $200.00 to $223.00 and gave the company an “outperform” rating in a report on Tuesday, April 13th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. L3Harris Technologies presently has a consensus rating of “Buy” and an average target price of $226.23.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.
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