L3Harris Technologies, Inc. (NYSE:LHX) CEO Christopher E. Kubasik Sells 25,000 Shares of Stock

L3Harris Technologies, Inc. (NYSE:LHX) CEO Christopher E. Kubasik sold 25,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a filing with the SEC, which is accessible through this link.

L3Harris Technologies Trading Up 0.1 %

Shares of L3Harris Technologies stock traded up $0.14 on Friday, hitting $223.25. 426,847 shares of the company traded hands, compared to its average volume of 890,691. The stock’s 50 day moving average price is $212.47 and its 200-day moving average price is $207.05. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. L3Harris Technologies, Inc. has a 52 week low of $160.25 and a 52 week high of $225.90. The company has a market cap of $42.35 billion, a PE ratio of 36.24, a PEG ratio of 1.87 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results 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. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same quarter in the previous year, the firm posted $2.86 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. Equities research analysts predict that L3Harris Technologies, Inc. will post 12.92 EPS for the current year.

L3Harris Technologies Announces Dividend

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

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently bought and sold shares of the business. Strong Tower Advisory Services grew its stake in L3Harris Technologies by 0.9% during the 4th quarter. Strong Tower Advisory Services now owns 5,363 shares of the company’s stock valued at $1,130,000 after acquiring an additional 49 shares in the last quarter. Oak Harbor Wealth Partners LLC boosted its stake in shares of L3Harris Technologies by 1.7% in the first quarter. Oak Harbor Wealth Partners LLC now owns 2,985 shares of the company’s stock valued at $636,000 after purchasing an additional 49 shares during the period. Blossom Wealth Management boosted its stake in L3Harris Technologies by 2.1% during the 4th quarter. Blossom Wealth Management now owns 2,465 shares of the company’s stock valued at $519,000 after acquiring an additional 51 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in L3Harris Technologies by 12.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after buying an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of L3Harris Technologies by 13.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 504 shares of the company’s stock worth $106,000 after buying an additional 58 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group raised their price objective on L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company increased their price target on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a report on Monday, April 22nd. Raymond James increased their price target on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $231.80.

L3Harris Technologies Company Profile

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.