Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells $376,878.60 in Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,764 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $213.65, for a total value of $376,878.60. Following the completion of the transaction, the insider now owns 6,812 shares of the company’s stock, valued at $1,455,383.80. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 16th, Ross Niebergall sold 1,764 shares of L3Harris Technologies stock. The shares were 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 stock was 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 Trading Down 0.6 %

Shares of NYSE:LHX opened at $212.37 on Monday. L3Harris Technologies, Inc. has a 52 week low of $200.18 and a 52 week high of $265.74. The company’s 50 day moving average is $238.96 and its two-hundred day moving average is $234.42. The company has a market cap of $40.28 billion, a PE ratio of 33.55, a P/E/G ratio of 1.91 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate 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 return on equity of 13.11% and a net margin of 5.71%. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 earnings per share. Equities analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.18%. The ex-dividend date was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC boosted its holdings in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after buying an additional 40 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in L3Harris Technologies by 2.7% in the third quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the last quarter. Blossom Wealth Management boosted its stake in L3Harris Technologies by 1.7% in the third quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after acquiring an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its holdings in shares of L3Harris Technologies by 3.3% during the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after purchasing an additional 43 shares during the last quarter. Finally, Archer Investment Corp increased its position in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LHX has been the subject of a number of research analyst reports. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Bank of America raised L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Finally, Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently 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.