L3Harris Technologies (NYSE:LHX) CEO Christopher Kubasik Sells 14,171 Shares

L3Harris Technologies Inc (NYSE:LHX) CEO Christopher Kubasik sold 14,171 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer owned 144,426 shares of the company’s stock, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

L3Harris Technologies Stock Up 0.2%

Shares of L3Harris Technologies stock traded up $0.65 during trading on Friday, reaching $289.02. 1,238,970 shares of the company traded hands, compared to its average volume of 1,339,654. The firm has a market capitalization of $54.06 billion, a PE ratio of 32.29, a P/E/G ratio of 2.09 and a beta of 0.75. The company has a 50 day moving average price of $290.17 and a 200-day moving average price of $266.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 30th. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the company posted $3.34 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s payout ratio is presently 51.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock worth $901,000 after buying an additional 3,001 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of L3Harris Technologies by 13.1% in the 1st quarter. Stephens Inc. AR now owns 6,340 shares of the company’s stock valued at $1,327,000 after purchasing an additional 734 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of L3Harris Technologies by 18.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 746 shares of the company’s stock valued at $156,000 after purchasing an additional 116 shares during the last quarter. Sage Mountain Advisors LLC grew its holdings in shares of L3Harris Technologies by 9.1% during the 1st quarter. Sage Mountain Advisors LLC now owns 1,114 shares of the company’s stock valued at $233,000 after purchasing an additional 93 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in L3Harris Technologies by 20.3% in the first quarter. Larson Financial Group LLC now owns 728 shares of the company’s stock worth $152,000 after purchasing an additional 123 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LHX shares. Truist Financial raised their price target on shares of L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Morgan Stanley raised their target price on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Citigroup boosted their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Finally, Royal Bank Of Canada upped their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $295.63.

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.