L3Harris Technologies (NYSE:LHX) VP Sells $278,110.32 in Stock

L3Harris Technologies Inc (NYSE:LHX) VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the sale, the vice president directly owned 4,131 shares of the company’s stock, valued at $1,529,791.92. This represents a 15.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, February 26th, Melanie Rakita sold 2,378 shares of L3Harris Technologies stock. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10.

L3Harris Technologies Stock Performance

LHX stock traded up $14.09 during trading on Monday, reaching $378.63. The company had a trading volume of 2,946,646 shares, compared to its average volume of 1,630,204. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. The firm has a 50-day simple moving average of $335.43 and a 200-day simple moving average of $302.66. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23. The company has a market cap 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 (NYSE:LHX) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the previous year, the firm earned $3.47 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The business also recently disclosed 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. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s payout ratio is currently 58.62%.

Analysts Set New Price Targets

LHX has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Sanford C. Bernstein restated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, February 6th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Argus raised L3Harris Technologies to a “strong-buy” rating in a research note on Friday. Finally, TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $328.57.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tempo Wealth LLC purchased a new stake in L3Harris Technologies during the 4th quarter worth $1,063,000. MidFirst Bank acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at about $343,000. Astoria Portfolio Advisors LLC. raised its holdings in shares of L3Harris Technologies by 11.3% during the 4th quarter. Astoria Portfolio Advisors LLC. now owns 1,231 shares of the company’s stock valued at $361,000 after buying an additional 125 shares during the period. Pacer Advisors Inc. lifted its position in L3Harris Technologies by 20.7% during the 4th quarter. Pacer Advisors Inc. now owns 18,810 shares of the company’s stock worth $5,522,000 after acquiring an additional 3,222 shares in the last quarter. Finally, Kera Capital Partners Inc. acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $404,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.