Jon Rambeau Sells 3,178 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

L3Harris Technologies Trading Down 2.4 %

Shares of LHX stock opened at $212.58 on Wednesday. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $209.17 and a 200-day moving average of $227.41. The firm has a market cap of $40.03 billion, a P/E ratio of 27.01, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, March 10th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.26%. L3Harris Technologies’s dividend payout ratio is 60.99%.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 234.3% during the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company’s stock valued at $25,000 after buying an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter worth $27,000. Roxbury Financial LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in shares of L3Harris Technologies by 336.4% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock valued at $30,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LHX. Morgan Stanley decreased their price objective on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Barclays decreased their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $269.00 to $268.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 target price on shares of L3Harris Technologies in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

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.