L3Harris (NYSE:LHX) SVP Sells $12,079,700.00 in Stock

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L3Harris (NYSE:LHX) SVP Scott T. Mikuen sold 56,500 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $213.80, for a total value of $12,079,700.00.

LHX stock opened at $207.82 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82. L3Harris has a 1 year low of $123.24 and a 1 year high of $216.65. The stock has a market cap of $46.58 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.80 and a beta of 0.94. The business has a fifty day moving average price of $208.73.

L3Harris (NYSE:LHX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.14. The company had revenue of $1.87 billion during 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%. L3Harris’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. Sell-side analysts expect that L3Harris will post 9.32 earnings per share for the current year.

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

Several equities research analysts recently commented on LHX shares. UBS Group lifted their price objective on L3Harris from $200.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of L3Harris from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of L3Harris from $210.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Vertical Research assumed coverage on shares of L3Harris in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $204.70 price target for the company. Finally, Buckingham Research lifted their price target on shares of L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. L3Harris has an average rating of “Buy” and an average target price of $235.47.

Several institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC bought a new stake in shares of L3Harris during the 2nd quarter valued at about $25,000. Dougherty Wealth Advisers LLC purchased a new stake in shares of L3Harris during the 2nd quarter valued at about $31,000. Financial Gravity Wealth Inc. bought a new position in shares of L3Harris in the 2nd quarter worth approximately $74,000. Parallel Advisors LLC bought a new position in shares of L3Harris in the 2nd quarter worth approximately $100,000. Finally, Nicholas Hoffman & Company LLC. bought a new position in shares of L3Harris in the 2nd quarter worth approximately $228,000. Institutional investors and hedge funds own 97.80% of the company’s stock.

About L3Harris

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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