L3Harris Technologies Inc (NYSE:LHX) CEO Christopher E. Kubasik Sells 33,061 Shares

L3Harris Technologies Inc (NYSE:LHX) CEO Christopher E. Kubasik sold 33,061 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer now directly owns 145,572 shares of the company’s stock, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

L3Harris Technologies Stock Performance

NYSE:LHX opened at $250.82 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. The company has a fifty day moving average of $229.61 and a two-hundred day moving average of $218.31. The stock has a market capitalization of $46.89 billion, a PE ratio of 29.75, a P/E/G ratio of 1.98 and a beta of 0.74. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The company had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors 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 1.91%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.94%.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after acquiring an additional 401,168 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in L3Harris Technologies by 1.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,833,024 shares of the company’s stock valued at $2,058,151,000 after purchasing an additional 181,550 shares during the last quarter. Wellington Management Group LLP raised its stake in L3Harris Technologies by 12.2% in the 1st quarter. Wellington Management Group LLP now owns 5,132,140 shares of the company’s stock valued at $1,074,208,000 after purchasing an additional 557,610 shares during the last quarter. Geode Capital Management LLC raised its stake in L3Harris Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,788,619 shares of the company’s stock valued at $1,004,418,000 after purchasing an additional 53,787 shares during the last quarter. Finally, Invesco Ltd. raised its stake in L3Harris Technologies by 5.0% in the 1st quarter. Invesco Ltd. now owns 2,347,348 shares of the company’s stock valued at $491,323,000 after purchasing an additional 112,271 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of analyst reports. The Goldman Sachs Group raised L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price target for the company from $198.00 to $263.00 in a report on Friday, April 11th. Jefferies Financial Group decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a report on Monday, March 31st. Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $268.00 to $242.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. UBS Group boosted their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the company a “neutral” rating in a research note on Monday, April 28th. Finally, Truist Financial decreased their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $258.75.

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.