Christopher E. Kubasik Sells 25,000 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,086,585.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

L3Harris Technologies Price Performance

L3Harris Technologies stock traded up $0.14 during mid-day trading on Friday, reaching $223.25. The company had a trading volume of 426,711 shares, compared to its average volume of 1,062,543. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $225.90. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market cap of $42.35 billion, a P/E ratio of 36.22, a P/E/G ratio of 1.89 and a beta of 0.63. The business has a fifty day simple moving average of $212.26 and a 200 day simple moving average of $206.76.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion for the quarter, compared to analyst estimates of $5.11 billion. During the same quarter last year, the business posted $2.86 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 12.92 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $1.16 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $4.64 dividend on an annualized basis and a yield of 2.08%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.

Wall Street Analysts Forecast Growth

LHX has been the topic of several research analyst reports. Barclays increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price on the stock in a report on Monday, April 22nd. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Finally, Citigroup raised their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $231.80.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds have recently modified their holdings of the business. Cross Staff Investments Inc lifted its holdings in shares of L3Harris Technologies by 12.4% during the fourth quarter. Cross Staff Investments Inc now owns 1,432 shares of the company’s stock worth $302,000 after purchasing an additional 158 shares during the period. Boston Partners lifted its holdings in shares of L3Harris Technologies by 107.2% during the fourth quarter. Boston Partners now owns 813,558 shares of the company’s stock worth $171,343,000 after purchasing an additional 420,943 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 40.0% during the fourth quarter. Victory Capital Management Inc. now owns 106,231 shares of the company’s stock worth $22,374,000 after purchasing an additional 30,358 shares during the period. Sapient Capital LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $1,198,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of L3Harris Technologies during the fourth quarter worth $46,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.