Christopher E. Kubasik Sells 33,061 Shares of L3Harris Technologies Inc (NYSE:LHX) Stock

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the transaction, the chief executive officer now owns 145,572 shares in the company, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

L3Harris Technologies Stock Performance

LHX traded down $2.08 on Wednesday, hitting $248.78. The company's stock had a trading volume of 1,279,977 shares, compared to its average volume of 1,134,254. The company's 50 day simple moving average is $230.29 and its 200-day simple moving average is $218.52. The firm has a market cap of $46.51 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 2.00 and a beta of 0.74. 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 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.32 by $0.09. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. L3Harris Technologies's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $3.06 EPS. Analysts forecast that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, June 3rd. L3Harris Technologies's payout ratio is 56.94%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings 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 worth $25,000 after acquiring an additional 82 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter worth $26,000. Millstone Evans Group LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $26,000. Nova Wealth Management Inc. bought a new stake in shares of L3Harris Technologies during the 1st quarter worth $26,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter worth $27,000. 84.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on LHX shares. Jefferies Financial Group dropped their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Truist Financial decreased their price objective on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Citigroup increased their price objective on shares of L3Harris Technologies from $245.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group upgraded shares of L3Harris Technologies from a "sell" rating to a "buy" rating and increased their price objective for the company from $198.00 to $263.00 in a research note on Friday, April 11th. Finally, UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

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.