L3Harris Technologies, Inc. (NYSE:LHX) CEO William M. Brown Sells 30,353 Shares

L3Harris Technologies, Inc. (NYSE:LHX) CEO William M. Brown sold 30,353 shares of L3Harris Technologies stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $217.94, for a total transaction of $6,615,132.82. Following the sale, the chief executive officer now owns 426,112 shares in the company, valued at $92,866,849.28. The sale was disclosed in a document filed with the SEC, which is available through this link.

William M. Brown also recently made the following trade(s):

  • On Monday, June 7th, William M. Brown sold 119,303 shares of L3Harris Technologies stock. The stock was sold at an average price of $219.33, for a total transaction of $26,166,726.99.

Shares of NYSE:LHX opened at $219.58 on Friday. The stock has a market capitalization of $45.01 billion, a P/E ratio of 34.10, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87. The company has a 50-day moving average price of $213.55. The company has a current ratio of 1.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.34. L3Harris Technologies, Inc. has a fifty-two week low of $158.09 and a fifty-two week high of $223.87.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Friday, April 30th. The company reported $3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.26. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.62 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.01%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.80 earnings per share. As a group, sell-side analysts forecast that L3Harris Technologies, Inc. will post 13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, May 28th. L3Harris Technologies’s dividend payout ratio is currently 35.17%.

LHX has been the topic of several research analyst reports. Credit Suisse Group lifted their price target on shares of L3Harris Technologies from $200.00 to $223.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 13th. Jefferies Financial Group lifted their price target on shares of L3Harris Technologies from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, May 3rd. Benchmark reiterated a “hold” rating on shares of L3Harris Technologies in a research note on Monday, May 3rd. Morgan Stanley reissued a “buy” rating on shares of L3Harris Technologies in a research report on Friday, May 14th. Finally, Wells Fargo & Company assumed coverage on shares of L3Harris Technologies in a research report on Tuesday, May 18th. They set an “equal weight” rating and a $225.00 price objective on the stock. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $226.21.

A number of hedge funds have recently added to or reduced their stakes in LHX. TD Ameritrade Investment Management LLC purchased a new stake in L3Harris Technologies during the fourth quarter worth about $25,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in L3Harris Technologies during the first quarter worth about $26,000. Concord Wealth Partners boosted its holdings in L3Harris Technologies by 258.3% during the first quarter. Concord Wealth Partners now owns 129 shares of the company’s stock worth $26,000 after buying an additional 93 shares in the last quarter. Wealthcare Capital Management LLC purchased a new stake in L3Harris Technologies during the first quarter worth about $29,000. Finally, Meridian Wealth Partners LLC purchased a new stake in L3Harris Technologies during the first quarter worth about $29,000. 79.76% of the stock is currently owned by hedge funds and other institutional investors.

About L3Harris Technologies

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

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