Melanie Rakita Sells 2,378 Shares of L3Harris Technologies (NYSE:LHX) Stock

L3Harris Technologies Inc (NYSE:LHX) VP Melanie Rakita sold 2,378 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $341.45, for a total transaction of $811,968.10. Following the completion of the transaction, the vice president directly owned 4,882 shares of the company’s stock, valued at approximately $1,666,958.90. The trade was a 32.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Melanie Rakita also recently made the following trade(s):

• On Monday, March 2nd, Melanie Rakita sold 751 shares of L3Harris Technologies stock. The shares were sold at an average price of $370.32, for a total value of $278,110.32.

L3Harris Technologies Stock Down 2.7%

NYSE:LHX opened at $368.41 on Wednesday. L3Harris Technologies Inc has a one year low of $195.72 and a one year high of $379.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The company has a market cap of $68.81 billion, a PE ratio of 43.19, a P/E/G ratio of 2.73 and a beta of 0.63. The firm’s 50 day simple moving average is $338.52 and its 200 day simple moving average is $304.10.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the previous year, the company posted $3.47 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s payout ratio is currently 56.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Corp bought a new stake in shares of L3Harris Technologies in the 3rd quarter worth $10,667,000. Merit Financial Group LLC boosted its holdings in L3Harris Technologies by 55.9% during the third quarter. Merit Financial Group LLC now owns 9,989 shares of the company’s stock worth $3,051,000 after purchasing an additional 3,583 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in L3Harris Technologies by 13.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,223 shares of the company’s stock worth $9,230,000 after purchasing an additional 3,532 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in L3Harris Technologies by 32.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 21,324 shares of the company’s stock valued at $6,513,000 after buying an additional 5,239 shares during the last quarter. Finally, Crystal Rock Capital Management bought a new position in shares of L3Harris Technologies during the 3rd quarter worth approximately $1,993,000. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their target price on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Susquehanna reissued a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Truist Financial set a $364.00 target price on L3Harris Technologies in a research note on Wednesday, January 14th. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. Finally, Vertical Research reissued a “buy” rating and issued a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $328.57.

Key Stories Impacting L3Harris Technologies

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Citi says a missile “megatrend” is still underestimated and named L3Harris among the contractors most exposed to growth in missile and interceptor systems — a macro tailwind for LHX’s Missile Solutions business. Article Title
• Positive Sentiment: L3Harris appointed Ken Sharp as CFO and moved Ken Bedingfield to focus full-time on Missile Solutions to rapidly scale solid rocket motor manufacturing and prepare the unit for a future IPO — a management move explicitly aimed at accelerating a high-growth segment. Article Title
• Positive Sentiment: L3Harris selected Intuitive Machines’ Lanteris Space Systems as a partner to support spacecraft platforms for the SDA Tranche 3 Tracking Layer — progress on space/ISR programs supports recurring revenue potential in the Space & ISR portfolio. Article Title
• Positive Sentiment: Sector momentum: market commentary says defense contractors are poised to ramp production amid Middle East tensions, implying potential incremental orders and capex for vendors like LHX. Article Title
• Neutral Sentiment: Analyst/upgrades and institutional flows are mixed: Argus upgraded LHX recently and MarketBeat notes some institutional buying, but consensus price targets and ratings vary — supporting interest but not a uniform buy signal. Article Title
• Negative Sentiment: Significant insider selling: filings show large sales by Samir Mehta and Jon Rambeau (~5,528 shares each) and additional VP sales by Melanie Rakita — these sizable reductions in insider holdings can weigh on near-term sentiment. Article Title

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.