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Jon Rambeau, President of Integrated Mission Systems at L3Harris Technologies (NYSE:LHX), recently sold 3,178 shares of the company’s common stock. The transaction, disclosed in a Form 4 filing with the Securities and Exchange Commission, took place on March 10, 2025, at a price of $226 per share, amounting to a total of $718,228. The sale occurred as the $41 billion aerospace and defense company trades at a P/E ratio of 27.6, with InvestingPro analysis suggesting the stock may be slightly undervalued.
Following this sale, Rambeau retains 2,797 shares in direct ownership, including a fractional share acquired through the company’s retirement plan. L3Harris Technologies, a leader in the aerospace and defense industry, is headquartered in Melbourne, Florida. The company maintains a solid 2.2% dividend yield and has raised dividends for 23 consecutive years. Analysts have set price targets ranging from $198 to $324, with detailed analysis available in the comprehensive InvestingPro Research Report.
In other recent news, L3Harris Technologies reported quarterly revenue of $5.5 billion, aligning with market expectations, and adjusted earnings per share of $3.47, surpassing the consensus estimate of $3.42. Citi analysts, while lowering the price target to $285 from $291, maintained a Buy rating on L3Harris, reflecting confidence in the company’s financial performance and cost management strategies. Additionally, L3Harris announced a dividend increase from $1.16 to $1.20 per share, marking the 24th consecutive annual rise, with the new dividend to be paid on March 21, 2025. The company’s CEO, Christopher E. Kubasik, has set up a stock sale plan under SEC Rule 10b5-1, allowing for structured sales of vested options.
In other developments, L3Harris’s Viper Shield electronic warfare suite successfully completed its first flight on an F-16 fighter jet, showcasing enhanced defense capabilities. The system is designed to improve pilot survivability through advanced jamming responses and was tested by the U.S. Air Force. The company plans to continue flight testing and aims to deliver the Viper Shield systems to international partners by late 2025. These recent developments highlight L3Harris’s ongoing efforts to innovate and maintain a strong financial position in the defense sector.
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