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

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,764 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 stock was sold at an average price of $244.68, for a total transaction of $731,103.84.

L3Harris Technologies Stock Down 1.3 %

L3Harris Technologies stock opened at $210.64 on Friday. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. 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 firm’s 50-day simple moving average is $243.07 and its 200 day simple moving average is $234.66. The stock has a market cap of $39.95 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 1.91 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 for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm 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 revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 EPS. Research analysts predict that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds have recently made changes to their positions in LHX. KCM Investment Advisors LLC increased its holdings in L3Harris Technologies by 43.8% during the third quarter. KCM Investment Advisors LLC now owns 19,273 shares of the company’s stock worth $4,584,000 after buying an additional 5,868 shares during the last quarter. Fortem Financial Group LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $841,000. Sanctuary Advisors LLC raised its holdings in shares of L3Harris Technologies by 13.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,634 shares of the company’s stock worth $7,602,000 after purchasing an additional 3,740 shares during the period. Creative Planning raised its holdings in shares of L3Harris Technologies by 1.2% in the 3rd quarter. Creative Planning now owns 41,588 shares of the company’s stock worth $9,893,000 after purchasing an additional 512 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in L3Harris Technologies in the third quarter valued at approximately $35,904,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LHX shares. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average target price 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.