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Edward J. Zoiss, the President of Space & Airborne Systems at L3Harris Technologies (NYSE:LHX), recently executed sales of company stock totaling approximately $1.09 million. The transactions took place over two consecutive days, with shares sold at prices ranging from $211.48 to $211.79.
On March 6, Zoiss sold 1,783 shares at a price of $211.48 each. The following day, he sold an additional 3,361 shares at $211.79 per share. After these transactions, Zoiss holds 27,259.4 shares of L3Harris Technologies directly. With a P/E ratio of 27.6 and revenue growth of 9.8% in the last twelve months, the company maintains strong market positioning.
These sales are part of Zoiss’s ongoing management of his equity holdings in the company, which specializes in search, detection, navigation, and aeronautical systems. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed financial health scores and 8 additional key insights about L3Harris Technologies.
In other recent news, L3Harris Technologies reported quarterly revenue of $5.5 billion, meeting market expectations, with adjusted earnings per share of $3.47, slightly surpassing the consensus estimate of $3.42. Citi analysts responded by lowering the company’s stock price target to $285 from $291 but maintained a Buy rating, reflecting continued confidence in L3Harris’s financial health. Additionally, L3Harris announced a dividend increase to $1.20 per share, marking the 24th consecutive annual rise, aligning with its strategy to enhance shareholder returns.
In corporate governance developments, CEO Christopher E. Kubasik has established a pre-arranged stock trading plan under SEC Rule 10b5-1, facilitating the structured sale of stock options set to expire in February 2027. On the technological front, L3Harris’s Viper Shield electronic warfare suite successfully completed its first flight on a Block 70 F-16 fighter jet, showcasing advancements in defense capabilities. The system is designed to improve pilot survivability by providing advanced jamming responses to radar threats.
L3Harris plans to continue testing the Viper Shield and aims to deliver the systems to international partners by late 2025. These recent developments highlight L3Harris’s ongoing efforts to strengthen its financial position and advance its technological offerings in the defense sector.
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