L3Harris Technologies (NYSE:LHX) Stock Price Down 0.2% on Insider Selling

Shares of L3Harris Technologies, Inc. (NYSE:LHX) traded down 0.2% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $212.00 and last traded at $212.97. 217,376 shares traded hands during trading, a decline of 76% from the average session volume of 917,020 shares. The stock had previously closed at $213.42.

Specifically, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the transaction, the insider now owns 8,576 shares of the company’s stock, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

LHX has been the subject of a number of recent research reports. Truist Financial lifted their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered their target price on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada increased their price target on L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.13.

L3Harris Technologies Price Performance

The stock’s 50-day moving average is $243.71 and its 200 day moving average is $234.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The company has a market cap of $40.24 billion, a PE ratio of 33.52, a PEG ratio of 1.91 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the firm posted $3.19 EPS. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is presently 73.30%.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Archer Investment Corp boosted its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the third quarter worth about $36,000. Family Firm Inc. acquired a new position in L3Harris Technologies in the second quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in L3Harris Technologies in the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

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.