L3Harris Technologies, Inc. (NYSE:LHX) Insider Edward J. Zoiss Sells 1,783 Shares of Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Edward J. Zoiss sold 1,783 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the transaction, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % 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 Down 0.9 %

Shares of NYSE LHX opened at $218.16 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The stock’s 50-day simple moving average is $209.13 and its 200-day simple moving average is $227.53. The firm has a market cap of $41.08 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 2.42 and a beta of 0.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.16. This represents a $4.80 annualized dividend and a yield of 2.20%. L3Harris Technologies’s dividend payout ratio is currently 60.99%.

Analyst Ratings Changes

LHX has been the subject of several research analyst reports. Barclays dropped their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. UBS Group increased their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $261.40.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its stake 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 purchasing an additional 82 shares in the last quarter. Millstone Evans Group LLC bought a new stake in L3Harris Technologies in the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $27,000. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the fourth quarter valued at approximately $30,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in L3Harris Technologies by 336.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 144 shares of the company’s stock worth $30,000 after buying an additional 111 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

About L3Harris Technologies

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.