L3Harris Technologies, Inc. (NYSE:LHX) CEO Christopher E. Kubasik Sells 40,000 Shares

L3Harris Technologies, Inc. (NYSE:LHX) CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

L3Harris Technologies Trading Up 0.6 %

Shares of LHX stock opened at $212.50 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.82. The company has a market cap of $40.40 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.96 and a beta of 0.65. The stock has a 50 day simple moving average of $210.75 and a 200-day simple moving average of $195.98. L3Harris Technologies, Inc. has a 1-year low of $160.25 and a 1-year high of $218.34.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Friday, January 26th. The company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.04. The business had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.27 EPS. On average, equities research analysts expect that L3Harris Technologies, Inc. will post 12.73 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.18%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. L3Harris Technologies’s payout ratio is presently 72.05%.

Institutional Trading of L3Harris Technologies

Several large investors have recently made changes to their positions in LHX. Capital World Investors increased its position in shares of L3Harris Technologies by 26.0% during the fourth quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock worth $3,381,784,000 after purchasing an additional 3,308,506 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 15.4% in the 4th quarter. Vanguard Group Inc. now owns 20,186,512 shares of the company’s stock worth $4,251,683,000 after acquiring an additional 2,692,771 shares during the last quarter. Mizuho Markets Americas LLC increased its stake in shares of L3Harris Technologies by 990.3% in the 4th quarter. Mizuho Markets Americas LLC now owns 2,204,675 shares of the company’s stock worth $464,349,000 after acquiring an additional 2,002,475 shares during the last quarter. Norges Bank acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth $342,413,000. Finally, Wellington Management Group LLP increased its stake in shares of L3Harris Technologies by 34.7% in the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LHX shares. TheStreet raised L3Harris Technologies from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Deutsche Bank Aktiengesellschaft raised L3Harris Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $184.00 to $240.00 in a report on Friday, December 15th. StockNews.com downgraded L3Harris Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Citigroup lifted their target price on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, Wells Fargo & Company decreased their price target on L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

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.