L3Harris (NYSE:LHX) CEO William M. Brown sold 65,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $228.63, for a total value of $14,860,950.00. Following the completion of the transaction, the chief executive officer now directly owns 432,443 shares in the company, valued at $98,869,443.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of LHX stock opened at $230.04 on Thursday. L3Harris has a 52-week low of $156.90 and a 52-week high of $230.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 1.49. The firm has a market capitalization of $50.76 billion, a PE ratio of 29.16, a PEG ratio of 2.47 and a beta of 0.82. The stock has a fifty day simple moving average of $215.48 and a two-hundred day simple moving average of $207.39.
L3Harris (NYSE:LHX) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.07. L3Harris had a return on equity of 17.71% and a net margin of 10.37%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business posted $1.96 EPS. L3Harris’s revenue for the quarter was up 190.0% compared to the same quarter last year. On average, sell-side analysts forecast that L3Harris will post 11.61 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. Cfra raised their target price on L3Harris from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. UBS Group raised their target price on L3Harris from $225.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. ValuEngine raised L3Harris from a “strong sell” rating to a “sell” rating in a report on Friday, December 13th. Raymond James raised their target price on L3Harris from $219.00 to $239.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. Finally, Credit Suisse Group increased their price target on L3Harris from $235.00 to $252.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have given a buy rating to the stock. L3Harris has an average rating of “Buy” and an average price target of $245.83.
Several institutional investors have recently modified their holdings of the company. State Street Corp purchased a new position in shares of L3Harris during the third quarter valued at about $1,949,311,000. Artisan Partners Limited Partnership grew its position in shares of L3Harris by 4.6% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,805,206 shares of the company’s stock valued at $950,806,000 after purchasing an additional 210,965 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of L3Harris during the third quarter valued at about $446,171,000. California Public Employees Retirement System grew its position in shares of L3Harris by 1.8% during the fourth quarter. California Public Employees Retirement System now owns 1,809,953 shares of the company’s stock valued at $358,135,000 after purchasing an additional 31,486 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of L3Harris during the third quarter valued at about $287,551,000. Hedge funds and other institutional investors own 82.74% of the company’s stock.
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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