Insider Selling: L3Harris Technologies, Inc. (NYSE:LHX) Insider Sells 2,000 Shares of Stock

L3Harris Technologies, Inc. insider Edward J. Zoiss sold 2,000 shares at $245 each, totaling $490,000, reducing his ownership by 7.32%. He now holds 25,325 shares valued at $6.2 million. The sale was disclosed to the SEC. The company has a market cap of $45.49 billion and reported $2.41 EPS for the last quarter, beating estimates. L3Harris also declared a quarterly dividend of $1.20 per share, with a yield of 1.97%. Analysts have set various price targets, with Citigroup lowering theirs to $245 and maintaining a "buy" rating.

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) insider Edward J. Zoiss sold 2,000 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now directly owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

L3Harris Technologies Stock Performance

3 Defense Stocks That Will Profit From a Golden Dome

Shares of LHX opened at $243.33 on Friday. The firm has a market cap of $45.49 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 2.42 and a beta of 0.72. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $219.62 and its two-hundred day moving average is $218.64. L3Harris Technologies, Inc. has a 52-week low of $193.09 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. The firm's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. Analysts forecast that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

L3Harris: Positioned for Gains With Trump’s Defense Policies

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.97%. L3Harris Technologies's payout ratio is 56.94%.

Institutional Trading of L3Harris Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in shares of L3Harris Technologies by 234.3% in the 4th quarter. Meeder Asset Management Inc. now owns 117 shares of the company's stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Millstone Evans Group LLC acquired a new position in L3Harris Technologies in the fourth quarter worth $26,000. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the first quarter valued at $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies during the first quarter worth $26,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of L3Harris Technologies in the 4th quarter worth about $27,000. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Aerospace Stock Fires Up a Solid EPS Beat and Raises Guidance

LHX has been the topic of several research analyst reports. Citigroup decreased their target price on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Morgan Stanley reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their target price on shares of L3Harris Technologies from $265.00 to $255.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial decreased their price target on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, L3Harris Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.56.

Check Out Our Latest Stock Report on LHX

About L3Harris Technologies

(Get Free Report)

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.