Insider Selling: L3Harris Technologies (NYSE:LHX) Insider Sells $1,640,034.00 in Stock

L3Harris Technologies Inc (NYSE:LHX) insider Samir Mehta sold 4,840 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the sale, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

L3Harris Technologies Stock Up 2.2%

NYSE LHX opened at $349.62 on Monday. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $369.59. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $65.40 billion, a P/E ratio of 40.99, a price-to-earnings-growth ratio of 2.52 and a beta of 0.64. The stock’s 50-day moving average price is $314.93 and its 200-day moving average price is $294.55.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the firm posted $3.47 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio is presently 58.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kiker Wealth Management LLC lifted its position in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares during the last quarter. Caitlin John LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $28,000. American National Bank & Trust grew its position in L3Harris Technologies by 44.8% in the fourth quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after acquiring an additional 30 shares in the last quarter. JPL Wealth Management LLC bought a new stake in L3Harris Technologies during the third quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $30,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the topic of several research analyst reports. Vertical Research restated a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. UBS Group boosted their price target on L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $328.57.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.