L3Harris (NYSE:LHX) CEO William M. Brown sold 65,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $228.63, for a total transaction of $14,860,950.00. Following the completion of the sale, the chief executive officer now directly owns 432,443 shares of the company’s stock, valued at $98,869,443.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
NYSE:LHX opened at $228.55 on Friday. L3Harris has a 12-month low of $156.90 and a 12-month high of $230.99. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $50.52 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82. The firm has a 50-day moving average price of $216.58 and a 200 day moving average price of $207.69.
L3Harris (NYSE:LHX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.07. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.82 billion. L3Harris had a net margin of 10.37% and a return on equity of 17.71%. The company’s revenue for the quarter was up 190.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.96 earnings per share. On average, research analysts expect that L3Harris will post 11.61 EPS for the current year.
Several research analysts have recently issued reports on the stock. Robert W. Baird boosted their price objective on shares of L3Harris from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, February 5th. ValuEngine upgraded shares of L3Harris from a “strong sell” rating to a “sell” rating in a research note on Friday, December 13th. Alembic Global Advisors started coverage on L3Harris in a research report on Monday, November 18th. They set an “overweight” rating and a $235.00 target price on the stock. Raymond James boosted their price target on L3Harris from $219.00 to $239.00 and gave the company an “outperform” rating in a research note on Wednesday, February 5th. Finally, Benchmark began coverage on L3Harris in a report on Friday, February 7th. They issued a “buy” rating and a $280.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $245.83.
Several institutional investors and hedge funds have recently modified their holdings of LHX. State Street Corp acquired a new stake in shares of L3Harris in the 3rd quarter valued at $1,949,311,000. Artisan Partners Limited Partnership lifted its holdings in L3Harris by 4.6% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,805,206 shares of the company’s stock valued at $950,806,000 after purchasing an additional 210,965 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in L3Harris by 10.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,357,911 shares of the company’s stock valued at $466,560,000 after purchasing an additional 219,435 shares during the last quarter. California Public Employees Retirement System lifted its holdings in L3Harris by 1.8% during the 4th quarter. California Public Employees Retirement System now owns 1,809,953 shares of the company’s stock valued at $358,135,000 after purchasing an additional 31,486 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in L3Harris in the third quarter valued at about $287,551,000. 82.74% of the stock is owned by institutional investors and hedge funds.
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.
See Also: Golden Cross
Receive News & Ratings for L3Harris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris and related companies with MarketBeat.com's FREE daily email newsletter.