Insider Selling: L3Harris Technologies (NYSE:LHX) VP Sells 2,180 Shares of Stock

L3Harris Technologies Inc (NYSE:LHX) VP Melanie Rakita sold 2,180 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total transaction of $676,781.00. Following the sale, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. This trade represents a 34.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 2nd, Melanie Rakita sold 751 shares of L3Harris Technologies stock. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32.
• On Thursday, February 26th, Melanie Rakita sold 2,378 shares of L3Harris Technologies stock. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10.

L3Harris Technologies Stock Performance

NYSE LHX traded down $6.04 during mid-day trading on Tuesday, reaching $302.58. 2,078,649 shares of the stock were exchanged, compared to its average volume of 1,523,344. The business’s 50 day moving average is $352.19 and its 200-day moving average is $323.72. L3Harris Technologies Inc has a 1 year low of $214.10 and a 1 year high of $379.23. The company has a market capitalization of $56.52 billion, a P/E ratio of 32.85, a P/E/G ratio of 1.59 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the firm posted $2.41 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.48 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds have recently modified their holdings of LHX. First Horizon Corp acquired a new stake in L3Harris Technologies during the third quarter worth about $10,667,000. Korea Investment CORP increased its position in L3Harris Technologies by 11.2% during the third quarter. Korea Investment CORP now owns 153,567 shares of the company’s stock worth $46,901,000 after purchasing an additional 15,408 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in L3Harris Technologies by 13.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock worth $9,230,000 after purchasing an additional 3,532 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in L3Harris Technologies by 32.6% during the third quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock worth $6,513,000 after purchasing an additional 5,239 shares during the last quarter. Finally, Crystal Rock Capital Management acquired a new stake in L3Harris Technologies during the third quarter worth about $1,993,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup increased their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Wall Street Zen raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a report on Friday, February 27th. Vertical Research reaffirmed a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $340.00 to $395.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $354.75.

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.