L3Harris Technologies, Inc. (NYSE:LHX) VP Todd A. Taylor sold 5,312 shares of the company’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $220.70, for a total transaction of $1,172,358.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of LHX opened at $219.58 on Friday. The stock has a 50 day simple moving average of $213.55. L3Harris Technologies, Inc. has a fifty-two week low of $158.09 and a fifty-two week high of $223.87. The stock has a market cap of $45.01 billion, a PE ratio of 34.10, a PEG ratio of 1.87 and a beta of 0.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.78 and a quick ratio of 1.57.
L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, April 30th. The company reported $3.18 EPS for the quarter, topping the consensus estimate of $2.92 by $0.26. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.62 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.01%. L3Harris Technologies’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.80 EPS. On average, equities analysts expect that L3Harris Technologies, Inc. will post 13 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Concord Wealth Partners raised its stake in shares of L3Harris Technologies by 258.3% during the 1st quarter. Concord Wealth Partners now owns 129 shares of the company’s stock worth $26,000 after acquiring an additional 93 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in L3Harris Technologies during the 1st quarter valued at approximately $26,000. TD Ameritrade Investment Management LLC acquired a new position in L3Harris Technologies during the 4th quarter valued at approximately $25,000. Wealthcare Capital Management LLC acquired a new position in L3Harris Technologies during the 1st quarter valued at approximately $29,000. Finally, Meridian Wealth Partners LLC acquired a new position in L3Harris Technologies during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.76% of the company’s stock.
Several research firms have issued reports on LHX. The Goldman Sachs Group reissued a “neutral” rating and issued a $208.00 price objective on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Jefferies Financial Group boosted their price objective on shares of L3Harris Technologies from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. TheStreet cut shares of L3Harris Technologies from a “b” rating to a “c” rating in a research report on Friday, April 30th. Morgan Stanley reissued a “buy” rating on shares of L3Harris Technologies in a research report on Friday, May 14th. Finally, Benchmark reissued a “hold” rating on shares of L3Harris Technologies in a research report on Monday, May 3rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $226.21.
About L3Harris Technologies
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.
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