Insider Selling: L3Harris Technologies (NYSE:LHX) VP Sells 2,378 Shares of Stock

L3Harris Technologies Inc (NYSE:LHX) VP Melanie Rakita sold 2,378 shares of L3Harris Technologies stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10. Following the sale, the vice president directly owned 4,882 shares of the company’s stock, valued at $1,666,958.90. This represents a 32.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Melanie Rakita also recently made the following trade(s):

• On Monday, March 2nd, Melanie Rakita sold 751 shares of L3Harris Technologies stock. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32.

L3Harris Technologies Trading Up 3.9%

LHX traded up $14.09 during mid-day trading on Monday, hitting $378.63. The stock had a trading volume of 2,946,646 shares, compared to its average volume of 1,630,204. The stock’s fifty day simple moving average is $335.43 and its 200-day simple moving average is $302.66. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The firm has a market capitalization of $70.72 billion, a price-to-earnings ratio of 44.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.64. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $379.23.

L3Harris Technologies (NYSE:LHX) last announced its quarterly 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 return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. During the same period in the prior year, the company earned $3.47 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is 58.62%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares during the period. Atria Investments Inc increased its position in L3Harris Technologies by 7.8% in the 2nd quarter. Atria Investments Inc now owns 9,512 shares of the company’s stock valued at $2,386,000 after buying an additional 685 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in shares of L3Harris Technologies by 17.7% during the second quarter. Simon Quick Advisors LLC now owns 1,795 shares of the company’s stock valued at $450,000 after acquiring an additional 270 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of L3Harris Technologies by 2.5% during the second quarter. GHP Investment Advisors Inc. now owns 32,604 shares of the company’s stock worth $8,178,000 after purchasing an additional 798 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of L3Harris Technologies in the 2nd quarter worth $219,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Wall Street Zen downgraded shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Vertical Research reaffirmed a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Company Profile

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.