Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells 2,000 Shares of Stock

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the transaction, the insider now owns 25,325 shares of the company's stock, valued at approximately $6,204,625. The trade was a 7.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock traded up $0.33 during trading on Tuesday, reaching $243.49. The company's stock had a trading volume of 1,211,998 shares, compared to its average volume of 1,100,523. The business has a 50 day moving average price of $220.88 and a 200-day moving average price of $217.98. 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 market capitalization of $45.52 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 2.42 and a beta of 0.72. L3Harris Technologies, Inc. has a 12-month low of $193.09 and a 12-month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The firm's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.97%. L3Harris Technologies's payout ratio is currently 56.94%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LHX. Bank of America lowered their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. UBS Group upped their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Morgan Stanley lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Citigroup reduced their price target on shares of L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and upped their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, L3Harris Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $256.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its position in L3Harris Technologies by 234.3% during the fourth quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock worth $25,000 after buying an additional 82 shares during the period. Clearstead Trust LLC acquired a new position in L3Harris Technologies during the first quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies in the first quarter valued at approximately $26,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $27,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About L3Harris Technologies

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.