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

L3Harris Technologies Inc (NYSE:LHX) VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $278,110.32. Following the completion of the transaction, the vice president owned 4,131 shares of the company’s stock, valued at $1,529,791.92. This trade represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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 Performance

Shares of L3Harris Technologies stock traded up $14.09 during trading on Monday, hitting $378.63. 2,946,646 shares of the stock were exchanged, compared to its average volume of 1,630,204. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19. L3Harris Technologies Inc has a 12 month low of $195.72 and a 12 month high of $379.23. The stock’s fifty day moving average is $335.43 and its 200 day moving average is $302.66. The stock has a market cap of $70.72 billion, a PE ratio of 44.39, a P/E/G ratio of 2.63 and a beta of 0.64.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 EPS. As a group, sell-side analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. L3Harris Technologies’s payout ratio is 58.62%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LHX. Truist Financial set a $364.00 price objective on shares of L3Harris Technologies in a research note on Wednesday, January 14th. Citigroup raised their price objective on shares of L3Harris Technologies from $389.00 to $418.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings raised L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Argus upgraded L3Harris Technologies to a “strong-buy” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $328.57.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds have recently added to or reduced their stakes in LHX. University of Texas Texas AM Investment Management Co. acquired a new position in shares of L3Harris Technologies during the fourth quarter worth approximately $25,000. Fideuram Asset Management Ireland dac acquired a new stake in shares of L3Harris Technologies in the fourth quarter worth $25,000. Motiv8 Investments LLC bought a new position in L3Harris Technologies during the fourth quarter worth $25,000. Caitlin John LLC acquired a new position in L3Harris Technologies during the 3rd quarter valued at $28,000. Finally, JPL Wealth Management LLC bought a new stake in L3Harris Technologies in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

About L3Harris Technologies

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.