Jon Rambeau Sells 3,178 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

L3Harris Technologies, Inc. (NYSE:LHX) insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

L3Harris Technologies Stock Down 1.4 %

L3Harris Technologies stock opened at $209.28 on Thursday. 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 one year low of $193.09 and a one year high of $265.74. The company has a 50-day simple moving average of $209.15 and a 200-day simple moving average of $227.28. The firm has a market capitalization of $39.41 billion, a P/E ratio of 26.59, a P/E/G ratio of 2.42 and a beta of 0.74.

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

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $1.20 dividend. 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 2.29%. The ex-dividend date is Monday, March 10th. L3Harris Technologies’s dividend payout ratio (DPR) is currently 60.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LHX shares. Morgan Stanley cut their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Barclays cut their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies 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. According to MarketBeat.com, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average price target of $261.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LHX. Raymond James Financial Inc. bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at about $398,507,000. Invesco Ltd. grew its position in L3Harris Technologies by 30.5% in the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company’s stock valued at $469,992,000 after buying an additional 522,861 shares in the last quarter. Vanguard Group Inc. increased its stake in L3Harris Technologies by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company’s stock valued at $4,895,534,000 after buying an additional 401,168 shares during the period. Deutsche Bank AG raised its position in shares of L3Harris Technologies by 64.2% during the 4th quarter. Deutsche Bank AG now owns 740,400 shares of the company’s stock worth $155,691,000 after buying an additional 289,514 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of L3Harris Technologies in the 4th quarter worth approximately $53,011,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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.