L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) CEO Christopher E. Kubasik sold 40,000 shares of the company's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available at this link.
L3Harris Technologies Trading Up 0.6 %
LHX traded up $1.37 on Wednesday, reaching $212.50. 1,215,814 shares of the company's stock were exchanged, compared to its average volume of 1,127,952. The company's 50 day moving average is $210.75 and its 200-day moving average is $195.98. The company has a market cap of $40.40 billion, a price-to-earnings ratio of 33.05, a PEG ratio of 1.97 and a beta of 0.65. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.
L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its quarterly earnings data on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter last year, the company earned $3.27 earnings per share. L3Harris Technologies's revenue for the quarter was up 16.6% on a year-over-year basis. Equities analysts predict that L3Harris Technologies, Inc. will post 12.73 earnings per share for the current year.
L3Harris Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $1.16 dividend. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.14. The ex-dividend date was Thursday, March 7th. This represents a $4.64 annualized dividend and a yield of 2.18%. L3Harris Technologies's dividend payout ratio (DPR) is 72.05%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. StockNews.com lowered shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Monday, January 29th. Deutsche Bank Aktiengesellschaft upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and upped their target price for the company from $184.00 to $240.00 in a report on Friday, December 15th. JPMorgan Chase & Co. raised shares of L3Harris Technologies from a "neutral" rating to an "overweight" rating and set a $240.00 price objective for the company in a research note on Thursday, January 11th. TheStreet raised shares of L3Harris Technologies from a "c+" rating to a "b-" rating in a research note on Thursday, December 21st. Finally, Truist Financial upped their price objective on shares of L3Harris Technologies from $224.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, December 14th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $229.00.
Read Our Latest Report on L3Harris Technologies
Institutional Trading of L3Harris Technologies
Several large investors have recently bought and sold shares of LHX. Cowa LLC acquired a new stake in L3Harris Technologies in the first quarter valued at approximately $26,000. Mascoma Wealth Management LLC purchased a new position in shares of L3Harris Technologies during the 3rd quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $28,000. Finally, KB Financial Partners LLC boosted its stake in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company's stock valued at $29,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
About L3Harris Technologies
(
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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.
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