L3Harris Technologies, Inc. (NYSE:LHX) President Edward J. Zoiss Sells 30,000 Shares of Stock

Posted by Defense World Staff on Sep 13th, 2023

L3Harris Technologies, Inc. (NYSE:LHX – Get Free Report) President Edward J. Zoiss sold 30,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $90.84, for a total transaction of $2,725,200.00. Following the transaction, the president now owns 31,923 shares in the company, valued at $2,899,885.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

L3Harris Technologies Stock Up 0.1 %

Shares of NYSE:LHX opened at $169.10 on Wednesday. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 40.26, a price-to-earnings-growth ratio of 4.57 and a beta of 0.72. The company has a 50 day moving average of $186.23 and a two-hundred day moving average of $191.44. L3Harris Technologies, Inc. has a 52-week low of $167.14 and a 52-week high of $255.10. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.42.

L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.03. L3Harris Technologies had a net margin of 4.46% and a return on equity of 12.82%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, analysts forecast that L3Harris Technologies, Inc. will post 12.33 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 5th will be given a $1.14 dividend. This represents a $4.56 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 1st. L3Harris Technologies’s payout ratio is 108.57%.

Analysts Set New Price Targets

LHX has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $240.00 price target on shares of L3Harris Technologies in a research note on Friday, August 18th. Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. StockNews.com assumed coverage on L3Harris Technologies in a research report on Thursday, August 17th. They set a “buy” rating for the company. Wells Fargo & Company raised their price objective on L3Harris Technologies from $202.00 to $204.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Finally, The Goldman Sachs Group boosted their target price on L3Harris Technologies from $162.00 to $164.00 in a report on Friday, August 11th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $229.00.

Read Our Latest Analysis on L3Harris Technologies

Institutional Trading of L3Harris Technologies

A number of hedge funds have recently made changes to their positions in the stock. Eagle Bay Advisors LLC acquired a new stake in L3Harris Technologies in the second quarter valued at $30,000. Hanson & Doremus Investment Management acquired a new stake in shares of L3Harris Technologies in the 1st quarter valued at about $25,000. GoalVest Advisory LLC lifted its position in shares of L3Harris Technologies by 179.6% during the second quarter. GoalVest Advisory LLC now owns 137 shares of the company’s stock worth $27,000 after purchasing an additional 88 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in L3Harris Technologies in the first quarter worth about $27,000. Finally, First Capital Advisors Group LLC. bought a new stake in L3Harris Technologies in the second quarter valued at about $29,000. Institutional investors and hedge funds own 81.33% of the company’s stock.

L3Harris Technologies Company Profile

(Get Free Report)

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, modification, and periodic depot maintenance services for ISR and airborne missions.