Insider Selling: L3Harris Technologies (NYSE:LHX) CEO Sells $4,266,179.55 in Stock

L3Harris Technologies Inc (NYSE:LHX) CEO Christopher Kubasik sold 14,171 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. This represents a 8.94% 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.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $289.02 on Monday. The company has a 50 day moving average of $290.17 and a 200-day moving average of $267.15. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The company has a market cap of $54.06 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the previous year, the firm posted $3.34 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, November 17th. L3Harris Technologies’s payout ratio is currently 51.56%.

Institutional Trading of L3Harris Technologies

Several institutional investors have recently made changes to their positions in LHX. Creative Planning increased its position in shares of L3Harris Technologies by 9.0% during the 3rd quarter. Creative Planning now owns 67,088 shares of the company’s stock valued at $20,489,000 after purchasing an additional 5,512 shares during the last quarter. Lazard Asset Management LLC grew its position in L3Harris Technologies by 4.7% during the third quarter. Lazard Asset Management LLC now owns 33,718 shares of the company’s stock valued at $10,298,000 after buying an additional 1,520 shares during the period. AQR Capital Management LLC increased its holdings in L3Harris Technologies by 19.6% during the third quarter. AQR Capital Management LLC now owns 264,797 shares of the company’s stock worth $79,585,000 after buying an additional 43,421 shares during the last quarter. Zacks Investment Management raised its position in L3Harris Technologies by 0.4% in the third quarter. Zacks Investment Management now owns 164,646 shares of the company’s stock worth $50,285,000 after acquiring an additional 640 shares during the period. Finally, Ancora Advisors LLC boosted its stake in L3Harris Technologies by 1.7% in the third quarter. Ancora Advisors LLC now owns 31,587 shares of the company’s stock valued at $9,647,000 after acquiring an additional 521 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the topic of a number of research analyst reports. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Royal Bank Of Canada raised their price target on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a report on Friday, October 31st. Barclays increased their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Finally, Robert W. Baird boosted their target price on L3Harris Technologies from $274.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $295.63.

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.