Insider Selling: L3Harris (NYSE:LHX) CEO Sells 130,000 Shares of Stock

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L3Harris (NYSE:LHX) CEO William M. Brown sold 130,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $214.52, for a total value of $27,887,600.00.

William M. Brown also recently made the following trade(s):

  • On Wednesday, September 4th, William M. Brown sold 130,000 shares of L3Harris stock. The shares were sold at an average price of $211.07, for a total value of $27,439,100.00.

Shares of LHX stock opened at $207.82 on Thursday. L3Harris has a 12-month low of $123.24 and a 12-month high of $216.65. The company has a market cap of $46.58 billion, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94. The business has a 50 day simple moving average of $208.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.14 and a quick ratio of 0.98.

L3Harris (NYSE:LHX) last posted its earnings results on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.30 by $0.14. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $4.31 billion. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. On average, sell-side analysts forecast that L3Harris will post 9.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $3.00 annualized dividend and a dividend yield of 1.44%. L3Harris’s payout ratio is 36.19%.

Several institutional investors and hedge funds have recently modified their holdings of LHX. Marshall Wace North America L.P. bought a new stake in shares of L3Harris during the second quarter valued at about $70,474,000. Marshall Wace LLP acquired a new position in L3Harris during the 2nd quarter valued at about $33,411,000. Panagora Asset Management Inc. acquired a new position in L3Harris during the 2nd quarter valued at about $19,308,000. Public Employees Retirement System of Ohio acquired a new position in L3Harris during the 2nd quarter valued at about $13,188,000. Finally, Glen Harbor Capital Management LLC bought a new stake in shares of L3Harris during the 2nd quarter worth about $9,092,000. 97.80% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on LHX. Buckingham Research increased their target price on L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Barclays set a $265.00 price target on shares of L3Harris and gave the company a “buy” rating in a report on Friday, August 2nd. ValuEngine downgraded shares of L3Harris from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Zacks Investment Research upgraded shares of L3Harris from a “hold” rating to a “buy” rating and set a $236.00 price target for the company in a research report on Thursday, September 5th. Finally, Vertical Research started coverage on shares of L3Harris in a report on Wednesday, July 3rd. They issued a “buy” rating and a $204.70 price objective on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. L3Harris presently has an average rating of “Buy” and an average target price of $235.47.

L3Harris Company Profile

L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.

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Insider Buying and Selling by Quarter for L3Harris (NYSE:LHX)

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