L3Harris (NYSE:LHX) insider Edward J. Zoiss sold 23,710 shares of L3Harris stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $228.98, for a total transaction of $5,429,115.80. Following the sale, the insider now directly owns 26,568 shares of the company’s stock, valued at approximately $6,083,540.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
NYSE LHX opened at $230.04 on Thursday. The firm’s fifty day simple moving average is $215.48 and its two-hundred day simple moving average is $207.39. The company has a current ratio of 1.49, a quick ratio of 1.21 and a debt-to-equity ratio of 0.31. L3Harris has a 12-month low of $156.90 and a 12-month high of $230.99. The firm has a market capitalization of $50.76 billion, a P/E ratio of 29.16, a P/E/G ratio of 2.47 and a beta of 0.82.
L3Harris (NYSE:LHX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.07. L3Harris had a net margin of 10.37% and a return on equity of 17.71%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 190.0% on a year-over-year basis. As a group, sell-side analysts predict that L3Harris will post 11.61 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LHX. Squar Milner Financial Services LLC grew its holdings in L3Harris by 500.0% in the third quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Aigen Investment Management LP purchased a new position in L3Harris in the fourth quarter worth $25,000. Wealthcare Capital Management LLC purchased a new position in L3Harris in the third quarter worth $26,000. Corbenic Partners LLC purchased a new position in L3Harris in the fourth quarter worth $26,000. Finally, D Orazio & Associates Inc. purchased a new position in L3Harris in the third quarter worth $27,000. 82.74% of the stock is currently owned by institutional investors and hedge funds.
LHX has been the topic of several research reports. Benchmark initiated coverage on shares of L3Harris in a report on Friday, February 7th. They set a “buy” rating and a $280.00 price objective on the stock. Argus lifted their price objective on shares of L3Harris from $230.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday. SunTrust Banks lifted their price objective on shares of L3Harris to $245.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Alembic Global Advisors initiated coverage on shares of L3Harris in a report on Monday, November 18th. They set an “overweight” rating and a $235.00 price objective on the stock. Finally, Zacks Investment Research raised shares of L3Harris from a “hold” rating to a “buy” rating and set a $219.00 price objective on the stock in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eighteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $245.83.
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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