L3Harris Technologies, Inc. (NYSE:LHX) CEO Sells $5,627,750.00 in Stock

L3Harris Technologies, Inc. (NYSE:LHXGet Free Report) CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

L3Harris Technologies Stock Up 0.1 %

Shares of NYSE:LHX traded up $0.14 during mid-day trading on Friday, reaching $223.25. 426,847 shares of the stock were exchanged, compared to its average volume of 890,691. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a one year low of $160.25 and a one year high of $225.90. The stock’s 50 day simple moving average is $212.47 and its 200-day simple moving average is $207.05. The company has a market cap of $42.35 billion, a P/E ratio of 36.24, a P/E/G ratio of 1.87 and a beta of 0.63.

L3Harris Technologies (NYSE:LHXGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.17. The company had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $2.86 EPS. As a group, equities research analysts predict that L3Harris Technologies, Inc. will post 12.92 EPS for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio is 75.32%.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 12.9% during the first quarter. Vanguard Group Inc. now owns 22,792,779 shares of the company’s stock worth $4,857,141,000 after buying an additional 2,606,267 shares in the last quarter. Capital World Investors raised its position in L3Harris Technologies by 26.0% in the 4th quarter. Capital World Investors now owns 16,056,272 shares of the company’s stock valued at $3,381,784,000 after purchasing an additional 3,308,506 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of L3Harris Technologies by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,631,207 shares of the company’s stock worth $2,052,411,000 after purchasing an additional 45,845 shares during the period. Wells Fargo & Company MN grew its stake in L3Harris Technologies by 2.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,147,546 shares of the company’s stock valued at $1,084,176,000 after acquiring an additional 101,708 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of L3Harris Technologies by 34.7% during the 4th quarter. Wellington Management Group LLP now owns 4,416,904 shares of the company’s stock worth $930,288,000 after acquiring an additional 1,138,549 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Raymond James raised their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Citigroup lifted their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price objective for the company in a research note on Monday, April 22nd. Finally, StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus target price of $231.80.

Get Our Latest Stock Analysis on LHX

L3Harris Technologies Company Profile

(Get Free Report)

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.

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