Edward J. Zoiss Sells 23,710 Shares of L3Harris (NYSE:LHX) Stock

L3Harris (NYSE:LHX) insider Edward J. Zoiss sold 23,710 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $228.98, for a total transaction of $5,429,115.80. Following the transaction, the insider now owns 26,568 shares in the company, valued at $6,083,540.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of LHX opened at $228.55 on Friday. The stock has a market capitalization of $50.52 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 1.49. L3Harris has a 1 year low of $156.90 and a 1 year high of $230.99. The company’s fifty day moving average is $216.58 and its two-hundred day moving average is $207.69.

L3Harris (NYSE:LHX) last released its earnings results on Tuesday, February 4th. The company reported $2.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.07. The company 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 business’s revenue was up 190.0% on a year-over-year basis. During the same quarter last year, the business earned $1.96 EPS. Sell-side analysts predict that L3Harris will post 11.61 EPS for the current year.

Several analysts recently commented on the stock. Argus upped their price target on shares of L3Harris from $230.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday. SunTrust Banks raised their price objective on shares of L3Harris to $245.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. UBS Group raised their price objective on shares of L3Harris from $225.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Alembic Global Advisors started coverage on shares of L3Harris in a research note on Monday, November 18th. They issued an “overweight” rating and a $235.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of L3Harris from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eighteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $245.83.

A number of hedge funds and other institutional investors have recently bought and sold shares of LHX. State Street Corp acquired a new stake in L3Harris in the third quarter valued at about $1,949,311,000. Massachusetts Financial Services Co. MA acquired a new position in L3Harris during the 3rd quarter worth approximately $446,171,000. California Public Employees Retirement System purchased a new position in shares of L3Harris during the 3rd quarter worth approximately $371,059,000. Millennium Management LLC purchased a new position in shares of L3Harris during the 3rd quarter worth approximately $287,551,000. Finally, Boston Partners acquired a new stake in shares of L3Harris in the 3rd quarter valued at approximately $274,375,000. 82.74% of the stock is 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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