Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells 3,178 Shares of Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $226.00, for a total value of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

L3Harris Technologies Trading Down 0.9 %

Shares of LHX stock traded down $1.94 on Monday, reaching $218.16. The company had a trading volume of 1,844,361 shares, compared to its average volume of 928,729. The stock has a market cap of $41.08 billion, a PE ratio of 27.72, a PEG ratio of 2.42 and a beta of 0.74. The company has a 50-day moving average of $209.13 and a 200-day moving average of $227.53. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, equities analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.20%. The ex-dividend date is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio (DPR) is presently 60.99%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. lifted its holdings in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new position in L3Harris Technologies in the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC bought a new position in L3Harris Technologies in the fourth quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of L3Harris Technologies by 336.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on LHX. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Bank of America reduced their price objective on L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $261.40.

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.