Samir Mehta Sells 5,528 Shares of L3Harris Technologies (NYSE:LHX) Stock

L3Harris Technologies Inc (NYSE:LHX) insider Samir Mehta sold 5,528 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider directly owned 7,756 shares of the company’s stock, valued at $2,872,201.92. The trade was a 41.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Samir Mehta also recently made the following trade(s):

• On Thursday, February 5th, Samir Mehta sold 4,840 shares of L3Harris Technologies stock. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00.

L3Harris Technologies Trading Down 2.7%

NYSE:LHX opened at $368.41 on Wednesday. The company has a 50-day moving average price of $338.52 and a 200-day moving average price of $304.10. The stock has a market cap of $68.81 billion, a price-to-earnings ratio of 43.19, a P/E/G ratio of 2.73 and a beta of 0.63. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $379.23.

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

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend 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 56.27%.

Analysts Set New Price Targets

LHX has been the subject of a number of analyst reports. Susquehanna reaffirmed a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Royal Bank Of Canada upped their price target on L3Harris Technologies from $360.00 to $365.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Wall Street Zen cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. JPMorgan Chase & Co. increased their target price on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Citigroup raised their price target on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

Institutional Trading of L3Harris Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after buying an additional 190,955 shares during the last quarter. Capital World Investors lifted its stake in L3Harris Technologies by 2.9% during the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock valued at $3,418,747,000 after acquiring an additional 329,910 shares during the period. State Street Corp boosted its holdings in shares of L3Harris Technologies by 1.6% during the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after acquiring an additional 141,442 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of L3Harris Technologies by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after acquiring an additional 106,430 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of L3Harris Technologies by 52.3% during the second quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

More L3Harris Technologies News

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Citi says a missile “megatrend” is still underestimated and named L3Harris among the contractors most exposed to growth in missile and interceptor systems — a macro tailwind for LHX’s Missile Solutions business. Article Title
• Positive Sentiment: L3Harris appointed Ken Sharp as CFO and moved Ken Bedingfield to focus full-time on Missile Solutions to rapidly scale solid rocket motor manufacturing and prepare the unit for a future IPO — a management move explicitly aimed at accelerating a high-growth segment. Article Title
• Positive Sentiment: L3Harris selected Intuitive Machines’ Lanteris Space Systems as a partner to support spacecraft platforms for the SDA Tranche 3 Tracking Layer — progress on space/ISR programs supports recurring revenue potential in the Space & ISR portfolio. Article Title
• Positive Sentiment: Sector momentum: market commentary says defense contractors are poised to ramp production amid Middle East tensions, implying potential incremental orders and capex for vendors like LHX. Article Title
• Neutral Sentiment: Analyst/upgrades and institutional flows are mixed: Argus upgraded LHX recently and MarketBeat notes some institutional buying, but consensus price targets and ratings vary — supporting interest but not a uniform buy signal. Article Title
• Negative Sentiment: Significant insider selling: filings show large sales by Samir Mehta and Jon Rambeau (~5,528 shares each) and additional VP sales by Melanie Rakita — these sizable reductions in insider holdings can weigh on near-term sentiment. Article Title

About L3Harris Technologies

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.