Melanie Rakita Sells 751 Shares of L3Harris Technologies (NYSE:LHX) Stock

L3Harris Technologies Inc (NYSE:LHX) VP Melanie Rakita sold 751 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the completion of the sale, the vice president directly owned 4,131 shares of the company’s stock, valued at $1,529,791.92. The trade was a 15.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Melanie Rakita also recently made the following trade(s):

• On Thursday, February 26th, Melanie Rakita sold 2,378 shares of L3Harris Technologies stock. The shares were sold at an average price of $341.45, for a total value of $811,968.10.

L3Harris Technologies Stock Down 2.7%

NYSE LHX opened at $368.41 on Wednesday. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $379.23. The company has a market capitalization of $68.81 billion, a P/E ratio of 43.19, a PEG ratio of 2.73 and a beta of 0.63. The company’s 50 day simple moving average is $338.52 and its 200 day simple moving average is $304.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the previous year, the company earned $3.47 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts expect that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 56.27%.

L3Harris Technologies News Summary

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Citi says a missile “megatrend” is still underestimated and named L3Harris among the contractors most exposed to growth in missile and interceptor systems — a macro tailwind for LHX’s Missile Solutions business. Article Title
• Positive Sentiment: L3Harris appointed Ken Sharp as CFO and moved Ken Bedingfield to focus full-time on Missile Solutions to rapidly scale solid rocket motor manufacturing and prepare the unit for a future IPO — a management move explicitly aimed at accelerating a high-growth segment. Article Title
• Positive Sentiment: L3Harris selected Intuitive Machines’ Lanteris Space Systems as a partner to support spacecraft platforms for the SDA Tranche 3 Tracking Layer — progress on space/ISR programs supports recurring revenue potential in the Space & ISR portfolio. Article Title
• Positive Sentiment: Sector momentum: market commentary says defense contractors are poised to ramp production amid Middle East tensions, implying potential incremental orders and capex for vendors like LHX. Article Title
• Neutral Sentiment: Analyst/upgrades and institutional flows are mixed: Argus upgraded LHX recently and MarketBeat notes some institutional buying, but consensus price targets and ratings vary — supporting interest but not a uniform buy signal. Article Title
• Negative Sentiment: Significant insider selling: filings show large sales by Samir Mehta and Jon Rambeau (~5,528 shares each) and additional VP sales by Melanie Rakita — these sizable reductions in insider holdings can weigh on near-term sentiment. Article Title

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares in the last quarter. Atria Investments Inc increased its stake in shares of L3Harris Technologies by 7.8% in the 2nd quarter. Atria Investments Inc now owns 9,512 shares of the company’s stock valued at $2,386,000 after buying an additional 685 shares during the period. Simon Quick Advisors LLC raised its position in shares of L3Harris Technologies by 17.7% during the second quarter. Simon Quick Advisors LLC now owns 1,795 shares of the company’s stock worth $450,000 after acquiring an additional 270 shares during the last quarter. GHP Investment Advisors Inc. increased its position in L3Harris Technologies by 2.5% in the second quarter. GHP Investment Advisors Inc. now owns 32,604 shares of the company’s stock worth $8,178,000 after purchasing an additional 798 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in L3Harris Technologies during the 2nd quarter valued at about $219,000. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Argus upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Vertical Research reiterated a “buy” rating and issued a $355.00 target price on shares of L3Harris Technologies in a report on Tuesday, January 13th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Company Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.