Ross Niebergall Sells 1,764 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on 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 directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ross Niebergall also recently made the following trade(s):

• On Monday, November 4th, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The stock was sold at an average price of $247.93, for a total value of $740,814.84.
• On Wednesday, October 2nd, Ross Niebergall sold 2,988 shares of L3Harris Technologies stock. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $210.64 on Friday. The stock’s 50-day moving average is $243.07 and its 200-day moving average is $234.66. The stock has a market cap of $39.95 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 EPS. Equities research analysts anticipate that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s dividend payout ratio is currently 73.30%.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. raised its position 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 acquiring an additional 86 shares during the last quarter. Archer Investment Corp raised its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $36,000. Family Firm Inc. bought a new stake in shares of L3Harris Technologies in the 2nd quarter valued at $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of L3Harris Technologies during the second quarter worth $57,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Truist Financial boosted their price objective on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Tuesday, November 26th. Citigroup boosted their price target on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Four investment 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 has an average rating of “Moderate Buy” and an average target price of $269.13.

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.