William M. Brown Sells 106,552 Shares of L3Harris (NYSE:LHX) Stock

L3Harris (NYSE:LHX) CEO William M. Brown sold 106,552 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $207.82, for a total value of $22,143,636.64.

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

  • On Wednesday, September 4th, William M. Brown sold 130,000 shares of L3Harris stock. The stock was sold at an average price of $211.07, for a total value of $27,439,100.00.

Shares of NYSE LHX traded up $1.93 during trading hours on Thursday, hitting $209.75. 680,704 shares of the company traded hands, compared to its average volume of 1,172,084. The company has a market capitalization of $46.73 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.14 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $208.73. L3Harris has a 12 month low of $123.24 and a 12 month high of $216.65.

L3Harris (NYSE:LHX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.14. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $4.31 billion. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. L3Harris’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 EPS. Sell-side analysts forecast that L3Harris will post 9.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, September 3rd. L3Harris’s dividend payout ratio (DPR) is presently 36.19%.

LHX has been the topic of several recent research reports. Barclays set a $265.00 price objective on L3Harris and gave the stock a “buy” rating in a report on Friday, August 2nd. Morgan Stanley assumed coverage on L3Harris in a research report on Tuesday, August 6th. They set an “overweight” rating and a $259.00 target price on the stock. ValuEngine downgraded L3Harris from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Goldman Sachs Group assumed coverage on L3Harris in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 target price on the stock. Finally, UBS Group boosted their target price on L3Harris from $200.00 to $210.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $235.47.

A number of institutional investors have recently made changes to their positions in LHX. Marshall Wace North America L.P. bought a new position in L3Harris in the 2nd quarter valued at $70,474,000. Marshall Wace LLP bought a new position in L3Harris in the 2nd quarter valued at $33,411,000. Panagora Asset Management Inc. bought a new position in L3Harris in the 2nd quarter valued at $19,308,000. Public Employees Retirement System of Ohio bought a new position in L3Harris in the 2nd quarter valued at $13,188,000. Finally, Glen Harbor Capital Management LLC bought a new position in L3Harris in the 2nd quarter valued at $9,092,000. 97.80% of the stock is currently owned by 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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Insider Buying and Selling by Quarter for L3Harris (NYSE:LHX)

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