L3Harris Technologies, Inc. (NYSE:LHX) insider Dana A. Mehnert sold 2,500 shares of the firm's stock in a transaction on Monday, June 14th. The stock was sold at an average price of $222.07, for a total value of $555,175.00. Following the completion of the sale, the insider now directly owns 5,046 shares of the company's stock, valued at approximately $1,120,565.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYSE LHX traded up $1.54 during trading on Tuesday, hitting $223.72. 848,930 shares of the company traded hands, compared to its average volume of 1,186,533. L3Harris Technologies, Inc. has a 12 month low of $158.09 and a 12 month high of $224.60. The business's fifty day simple moving average is $214.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.57. The company has a market cap of $45.86 billion, a P/E ratio of 34.75, a P/E/G ratio of 1.91 and a beta of 0.87.
L3Harris Technologies (NYSE:LHX) last posted its earnings results on Friday, April 30th. The company reported $3.18 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $2.92 by $0.26. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.62 billion. L3Harris Technologies had a return on equity of 12.01% and a net margin of 7.55%. The business's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. On average, equities research analysts predict that L3Harris Technologies, Inc. will post 13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be paid a $1.02 dividend. The ex-dividend date is Friday, May 28th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.82%. L3Harris Technologies's payout ratio is presently 35.17%.
Institutional investors have recently bought and sold shares of the company. TD Ameritrade Investment Management LLC bought a new position in shares of L3Harris Technologies in the fourth quarter worth about $25,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the first quarter worth about $26,000. Concord Wealth Partners increased its stake in shares of L3Harris Technologies by 258.3% in the first quarter. Concord Wealth Partners now owns 129 shares of the company's stock worth $26,000 after purchasing an additional 93 shares during the period. Wealthcare Capital Management LLC bought a new position in shares of L3Harris Technologies in the first quarter worth about $29,000. Finally, Meridian Wealth Partners LLC bought a new position in L3Harris Technologies during the first quarter valued at about $29,000. Institutional investors and hedge funds own 79.76% of the company's stock.
LHX has been the subject of several recent analyst reports. Credit Suisse Group raised their target price on L3Harris Technologies from $200.00 to $223.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 13th. Jefferies Financial Group lifted their price objective on L3Harris Technologies from $235.00 to $250.00 and gave the company a "buy" rating in a research report on Monday, May 3rd. Wells Fargo & Company initiated coverage on L3Harris Technologies in a research report on Tuesday, May 18th. They set an "equal weight" rating and a $225.00 price objective for the company. The Goldman Sachs Group reissued a "neutral" rating and set a $208.00 price objective on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Finally, Morgan Stanley reissued a "buy" rating on shares of L3Harris Technologies in a research report on Friday, May 14th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. L3Harris Technologies has a consensus rating of "Buy" and an average price target of $226.23.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.
Read More: How the Consumer Price Index (CPI) is calculated?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is the CBOE Russell 2000® Volatility Index?7 Stocks That Can Help You Profit From Summer Shortages
One of the lingering impacts of the Covid-19 pandemic is the supply chain disruptions that continue to bedevil many sectors. By now, every investor is aware of the global chip shortage that is disrupting many sectors that were projected to have strong growth in 2021.
But there are many more sectors that are being affected by supply chain disruptions. And this affects everything from big-ticket items like cars to everyday items like pet food and even bacon.
The focus of this special presentation is seven companies that stand to benefit from the current disruption in the supply chain. All of these companies delivered strong gains in 2020. Some of them have weakened in 2021, but that was before the full extent of the supply chain weakness was discovered.
As the economy reopens, the shortage of items is likely to continue and become much more notable. When they do, many of these stocks may get overpriced. That’s why now is the time to get in on these stocks that can help you work the supply chain in your favor.
View the "7 Stocks That Can Help You Profit From Summer Shortages"