L3Harris (NYSE:LHX) Insider Dana A. Mehnert Sells 73,150 Shares of Stock

L3Harris (NYSE:LHX) insider Dana A. Mehnert sold 73,150 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $209.42, for a total transaction of $15,319,073.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of NYSE:LHX traded up $2.57 on Friday, reaching $214.70. 1,362,148 shares of the company were exchanged, compared to its average volume of 1,177,530. The company has a current ratio of 1.14, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82. L3Harris has a 1-year low of $123.24 and a 1-year high of $216.65. The company has a market capitalization of $47.36 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.84 and a beta of 0.94. The stock’s 50-day simple moving average is $207.11.

L3Harris (NYSE:LHX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.14. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $4.31 billion. L3Harris had a net margin of 13.95% and a return on equity of 29.39%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. As a group, analysts expect that L3Harris will post 9.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.00 dividend on an annualized basis and a yield of 1.40%. L3Harris’s payout ratio is 36.19%.

A number of equities analysts have recently weighed in on LHX shares. Goldman Sachs Group started coverage on shares of L3Harris in a research note on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of L3Harris from $210.00 to $235.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Morgan Stanley started coverage on shares of L3Harris in a research note on Tuesday, August 6th. They set an “overweight” rating and a $259.00 price target on the stock. Buckingham Research upped their price target on shares of L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Barclays set a $265.00 price target on shares of L3Harris and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. L3Harris currently has an average rating of “Buy” and a consensus target price of $235.47.

A number of hedge funds and other institutional investors have recently modified their holdings of LHX. Marshall Wace North America L.P. acquired a new stake in L3Harris in the 2nd quarter valued at about $70,474,000. Marshall Wace LLP acquired a new stake in L3Harris in the 2nd quarter valued at about $33,411,000. Panagora Asset Management Inc. acquired a new stake in L3Harris in the 2nd quarter valued at about $19,308,000. Public Employees Retirement System of Ohio acquired a new stake in L3Harris in the 2nd quarter valued at about $13,188,000. Finally, Glen Harbor Capital Management LLC acquired a new stake in L3Harris in the 2nd quarter valued at about $9,092,000. 97.80% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Company Profile

L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.

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