On November 4, 2024, Ross Niebergall, President of Aerojet Rocketdyne, a subsidiary of L3Harris Technologies Inc (LHX, Financial), executed a sale of 2,988 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now owns 10,340.16 shares of L3Harris Technologies Inc.
L3Harris Technologies Inc, headquartered in Melbourne, Florida, is a global aerospace and defense technology innovator, providing advanced defense and commercial technologies across air, land, sea, space, and cyber domains.
Over the past year, Ross Niebergall has sold a total of 8,964 shares and has not made any purchases of the company's stock. This recent sale continues a trend observed in the company's insider activity, where there have been 12 insider sells and only 1 insider buy over the past year.
Shares of L3Harris Technologies Inc were trading at $247.93 on the day of the transaction. The company has a market cap of approximately $46.86 billion. The price-earnings ratio stands at 39.03, which is above both the industry median of 34.59 and the company's historical median.
The stock is considered to be Fairly Valued with a price-to-GF Value ratio of 1, based on a GF Value of $247.31. The GF Value is calculated considering historical trading multiples, an adjustment factor based on past performance, and future business projections.
This insider sale might interest investors tracking insider behaviors as an indicator of corporate confidence and potential future stock performance. However, it is essential to consider broader market conditions and more comprehensive financial analysis when making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
