Dana A. Mehnert Sells 2,500 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

Last updated on Tuesday, June 15, 2021 | 2021 MarketBeat

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.

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