L3Harris Technologies (NYSE:LHX) Insider Samir Mehta Sells 4,840 Shares

L3Harris Technologies Inc (NYSE:LHX) insider Samir Mehta sold 4,840 shares of the stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the sale, the insider directly owned 5,916 shares in the company, valued at $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

L3Harris Technologies Trading Up 2.2%

LHX stock traded up $7.40 during midday trading on Friday, reaching $349.62. The company’s stock had a trading volume of 975,801 shares, compared to its average volume of 1,813,594. The firm has a market capitalization of $65.40 billion, a price-to-earnings ratio of 40.99, a PEG ratio of 2.44 and a beta of 0.64. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $369.59. The stock has a fifty day simple moving average of $313.50 and a two-hundred day simple moving average of $293.56. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.47 EPS. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is currently 58.62%.

Wall Street Analyst Weigh In

Several research firms have issued reports on LHX. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a research note on Friday. Vertical Research reaffirmed a “buy” rating and issued a $355.00 price objective on shares of L3Harris Technologies in a research report on Tuesday, January 13th. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Finally, Morgan Stanley upped their price target on L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. First Horizon Corp purchased a new position in L3Harris Technologies during the 3rd quarter valued at about $10,667,000. Merit Financial Group LLC grew its position in shares of L3Harris Technologies by 55.9% in the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock valued at $3,051,000 after purchasing an additional 3,583 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of L3Harris Technologies by 32.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock worth $6,513,000 after purchasing an additional 5,239 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of L3Harris Technologies by 13.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock worth $9,230,000 after purchasing an additional 3,532 shares during the last quarter. Finally, US Bancorp DE lifted its stake in L3Harris Technologies by 1.6% in the 2nd quarter. US Bancorp DE now owns 344,112 shares of the company’s stock valued at $86,317,000 after buying an additional 5,526 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.