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

L3Harris Technologies, Inc. (NYSE:LHX) insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 30,620 shares of the company’s stock, valued at $6,475,517.60. The trade was a 5.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $1.94 during trading hours on Monday, hitting $218.16. The stock had a trading volume of 1,844,361 shares, compared to its average volume of 928,729. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. The stock’s fifty day simple moving average is $209.13 and its 200 day simple moving average is $227.53. The firm has a market capitalization 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, Inc. has a 1-year low of $193.09 and a 1-year high of $265.74.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating 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%. Sell-side 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 disclosed 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 represents a $4.80 annualized dividend and a yield of 2.20%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s dividend payout ratio is presently 60.99%.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. lifted its stake in shares of L3Harris Technologies by 19.4% in the 3rd quarter. QRG Capital Management Inc. now owns 3,001 shares of the company’s stock worth $714,000 after acquiring an additional 487 shares during the period. Principal Financial Group Inc. increased its stake in shares of L3Harris Technologies by 2.0% during the third quarter. Principal Financial Group Inc. now owns 220,269 shares of the company’s stock valued at $52,395,000 after acquiring an additional 4,321 shares during the period. Summit Global Investments bought a new stake in L3Harris Technologies during the third quarter worth approximately $334,000. Equitable Trust Co. lifted its position in L3Harris Technologies by 28.5% in the third quarter. Equitable Trust Co. now owns 3,842 shares of the company’s stock worth $914,000 after purchasing an additional 851 shares during the period. Finally, Assetmark Inc. boosted its stake in L3Harris Technologies by 0.6% during the 3rd quarter. Assetmark Inc. now owns 17,656 shares of the company’s stock valued at $4,200,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LHX. Morgan Stanley decreased their price target on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $240.00 price target on shares of L3Harris Technologies in a report on Friday, January 31st. Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lowered their target price on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $261.40.

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.