Key Points
- Samir Mehta sold 5,528 shares of L3Harris at an average price of $370.32 on March 2, generating about $2.05 million and reducing his stake by roughly 41.6% to 7,756 shares.
- Multiple other insiders — including Jon Rambeau and VP Melanie Rakita — also completed sizable sales (Ramabeau ~5,528 shares; Rakita ~3,129 shares), representing notable insider stake reductions that could be viewed negatively by investors.
- Despite the insider sales, L3Harris posted an quarterly EPS beat ($2.86 vs. $2.76 expected) and raised its quarterly dividend to $1.25 (annualized $5.00, ~1.3% yield), while the stock trades near its 1‑year high and the company has a ~$70.7B market cap.
L3Harris Technologies Inc (NYSE:LHX - Get Free Report) VP Melanie Rakita sold 751 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total transaction of $278,110.32. Following the transaction, the vice president directly owned 4,131 shares of the company's stock, valued at $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Melanie Rakita also recently made the following trade(s):
- On Thursday, February 26th, Melanie Rakita sold 2,378 shares of L3Harris Technologies stock. The stock was sold at an average price of $341.45, for a total transaction of $811,968.10.
L3Harris Technologies Stock Up 3.9%
L3Harris Technologies stock opened at $378.63 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. L3Harris Technologies Inc has a 1-year low of $195.72 and a 1-year high of $379.23. The company has a fifty day simple moving average of $337.11 and a 200 day simple moving average of $303.41. The company has a market cap of $70.72 billion, a P/E ratio of 44.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.63.
L3Harris Technologies (NYSE:LHX - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The company's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 EPS. Research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.
L3Harris Technologies Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $1.25 dividend. This is a positive change from L3Harris Technologies's previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, March 6th. L3Harris Technologies's dividend payout ratio is 56.27%.
Analyst Ratings Changes
Several equities analysts recently weighed in on LHX shares. Wall Street Zen cut shares of L3Harris Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. UBS Group increased their price target on shares of L3Harris Technologies to $323.00 and gave the company a "neutral" rating in a research note on Wednesday, January 14th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. Citigroup upped their target price on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Finally, Wolfe Research reiterated an "outperform" rating on shares of L3Harris Technologies in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of "Moderate Buy" and an average price target of $328.57.
Get Our Latest Report on L3Harris Technologies
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Tempo Wealth LLC acquired a new stake in L3Harris Technologies during the fourth quarter worth approximately $1,063,000. MidFirst Bank acquired a new position in shares of L3Harris Technologies in the fourth quarter valued at approximately $343,000. Astoria Portfolio Advisors LLC. increased its stake in shares of L3Harris Technologies by 11.3% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,231 shares of the company's stock worth $361,000 after purchasing an additional 125 shares during the period. Pacer Advisors Inc. lifted its holdings in L3Harris Technologies by 20.7% during the 4th quarter. Pacer Advisors Inc. now owns 18,810 shares of the company's stock worth $5,522,000 after purchasing an additional 3,222 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new stake in L3Harris Technologies in the 4th quarter valued at $404,000. 84.76% of the stock is owned by institutional investors.
L3Harris Technologies News Summary
Here are the key news stories impacting L3Harris Technologies this week:
- Positive Sentiment: L3Harris announced Kenneth (Ken) Sharp will become Senior Vice President and Chief Financial Officer effective March 16, and Kenneth (Ken) Bedingfield will focus full-time on leading Missile Solutions and scaling solid rocket motor production — management framed this as accelerating the segment to meet urgent missile demand and preparing Missile Solutions for an eventual IPO. Read More.
- Positive Sentiment: Analyst sentiment improved with an upgrade from Argus, a development that can boost short-term investor demand and validate the company’s outlook. Read More.
- Negative Sentiment: Insider Samir Mehta sold 5,528 shares at an average price of $370.32 (~$2.05M); the filing shows his ownership fell by ~41.6%, which investors may interpret as a negative signal about insider conviction. Read More.
- Negative Sentiment: Insider Jon Rambeau sold 5,528 shares at an average of $370.32 (~$2.05M), reducing his stake by ~41.9%; another large insider sale that could temper enthusiasm. Read More.
- Negative Sentiment: VP Melanie Rakita disclosed two recent sales (2,378 shares on Feb 26 at $341.45 and 751 shares on Mar 2 at $370.32), totaling 3,129 shares (~$1.09M); her filings show notable reductions in her holdings. Read More.
L3Harris Technologies Company Profile
(
Get Free Report)
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.
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