Ross Niebergall Sells 1,373 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, December 23rd, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The stock was sold at an average price of $213.65, for a total value of $376,878.60.
• On Monday, December 16th, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The stock was 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 shares were sold at an average price of $247.93, for a total value 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 Up 0.6 %

Shares of NYSE LHX traded up $1.34 during trading on Tuesday, reaching $210.28. 840,289 shares of the stock were exchanged, compared to its average volume of 918,192. The company has a market capitalization of $39.88 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. The business’s 50-day moving average price is $238.17 and its 200 day moving average price is $234.35. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies, Inc. has a twelve month low of $200.18 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS 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 analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.19 EPS. As a group, equities analysts forecast that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were paid a dividend of $1.16 per share. The ex-dividend date was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 2.21%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Citigroup raised their price objective on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $269.13.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of L3Harris Technologies by 13.0% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,209 shares of the company’s stock worth $272,000 after buying an additional 139 shares during the last quarter. International Assets Investment Management LLC acquired a new position in L3Harris Technologies during the 2nd quarter worth $161,000. Rothschild Investment LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter worth about $139,000. IFG Advisory LLC acquired a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $459,000. Finally, Essex Financial Services Inc. lifted its position in shares of L3Harris Technologies by 11.2% during the second quarter. Essex Financial Services Inc. now owns 1,682 shares of the company’s stock worth $378,000 after purchasing an additional 169 shares during the last quarter. 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.