Todd A. Taylor Sells 5,312 Shares of L3Harris Technologies, Inc. (NYSE:LHX) Stock

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.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, May 28th. This represents a $4.08 annualized dividend and a dividend yield of 1.86%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 35.17%.

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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