cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk cuk

L3Harris Technologies director buys $535,925 in company stock


© Reuters.

In a recent move, William H. Swanson, a director at L3Harris Technologies, Inc. (NYSE:), demonstrated his confidence in the company by purchasing a significant amount of its stock. The transactions, which occurred over two consecutive days, amounted to a total investment of $535,925.

On the first day, Swanson acquired 1,250 shares at an average price of $215.35, with individual sale prices ranging from $214.64 to $216.00. The following day, he continued his investment by purchasing an additional 1,250 shares, this time at a slightly lower average price of $213.39, with sales prices varying between $211.74 and $214.32.

These transactions have increased Swanson’s stake in the company, signaling a strong belief in the future performance of L3Harris Technologies. The company, known for its expertise in search, detection, navigation, guidance, and aeronautical systems, has a solid presence in the defense and aerospace sectors.

Investors often keep a close eye on insider buying and selling as it can provide insights into the company’s prospects. Swanson’s recent purchases could be interpreted as a positive sign for the company’s shareholders and potential investors.

L3Harris Technologies has not made any further comments regarding these transactions. However, the details of the trades, including the price ranges and total investment, are publicly available for review by shareholders and the Securities and Exchange Commission (SEC) staff upon request.

InvestingPro Insights

Following the news of William H. Swanson’s stock purchase, a closer look at L3Harris Technologies, Inc. (NYSE:LHX) through InvestingPro’s lens provides additional context to the director’s confidence in the company. With a solid market capitalization of $40.08 billion, LHX showcases its significance in the Aerospace & Defense industry, a status that is complemented by its robust revenue growth. The company’s revenue for the last twelve months as of Q4 2023 stands at an impressive $19.42 billion, marking a growth of 13.81%.

The company’s financial strength is further evidenced by a Gross Profit Margin of 26.33%, indicating a healthy difference between the cost of goods sold and the sales revenue. Additionally, LHX’s Operating Income Margin at 11.91% reflects efficient management and profitability in its operations.

InvestingPro Tips highlight that L3Harris Technologies has been a consistent performer, raising its dividend for an impressive 54 consecutive years, which speaks to the company’s commitment to shareholder returns. Moreover, the company is expected to remain profitable this year, with net income projected to grow, as noted by analysts. These factors may have contributed to Swanson’s decision to increase his investment in the company.

Prospective investors and current shareholders can explore more insights and tips on LHX by visiting InvestingPro. There are 8 additional InvestingPro Tips available to help you analyze LHX’s potential further. Take advantage of these insights with an exclusive offer: use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

antaranews

Leave a Comment