L3Harris Technologies, Inc. (NYSE:LHX) Insider Edward J. Zoiss Sells 1,783 Shares

L3Harris Technologies, Inc. (NYSE:LHX) insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the completion of the transaction, the insider now owns 30,620 shares in the company, valued at $6,475,517.60. This represents a 5.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $209.28 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a fifty-two week low of $193.09 and a fifty-two week high of $265.74. The firm has a 50-day simple moving average of $209.15 and a 200 day simple moving average of $227.28. The company has a market cap of $39.41 billion, a PE ratio of 26.59, a P/E/G ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $1.20 dividend. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. The ex-dividend date is Monday, March 10th. This represents a $4.80 annualized dividend and a yield of 2.29%. L3Harris Technologies’s dividend payout ratio is 60.99%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LHX. Citigroup cut their target price on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Susquehanna cut their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Wells Fargo & Company cut their target price on shares of L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LHX. QRG Capital Management Inc. grew its position in L3Harris Technologies by 19.4% in the 3rd quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock worth $714,000 after purchasing an additional 487 shares during the last quarter. Principal Financial Group Inc. grew its position in L3Harris Technologies by 2.0% in the 3rd quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock worth $52,395,000 after purchasing an additional 4,321 shares during the last quarter. Summit Global Investments bought a new position in L3Harris Technologies in the 3rd quarter worth about $334,000. Equitable Trust Co. lifted its stake in shares of L3Harris Technologies by 28.5% in the 3rd quarter. Equitable Trust Co. now owns 3,842 shares of the company’s stock worth $914,000 after acquiring an additional 851 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of L3Harris Technologies by 0.6% in the 3rd quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock worth $4,200,000 after acquiring an additional 100 shares during the period. Institutional investors 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.