Rakita, L3Harris Technologies VP, sells $1.09 million in stock
#L3Harris Technologies #Insider Trading #Stock Sale #Defense Contracts #Executive Transactions #Market Analysis #Geopolitical Impact #Stock Valuation
📌 Key Takeaways
- L3Harris VP sold $1.09 million in company stock
- Company appointed new CFO with extensive defense industry background
- L3Harris secured $466 million defense contract
- Analysts raised price target to $435 with Outperform rating
- Defense stocks fluctuating with geopolitical developments
📖 Full Retelling
Melanie Rakita, Vice President & CHRO of L3Harris Technologies (NYSE:LHX), sold 3,129 shares of common stock for approximately $1.09 million in transactions occurring on February 26 and March 2, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at prices ranging from $341.45 to $370.32 per share. In addition to the sales, Rakita also acquired several stock units on February 26, including 1,020 shares from performance stock units, 4,345 Non-Qualified Stock Options, and 1,127 Restricted Stock Units, all acquired at $0. She also disposed of 269 shares to cover tax obligations, valued at $95,538 at $355.16 per share. The company's stock currently appears overvalued according to InvestingPro analysis, trading at a P/E ratio of 44.17. L3Harris has recently undergone significant leadership changes with the appointment of Kenneth Sharp as Chief Financial Officer effective March 16, following his experience at Peraton Inc., DXC Technology, and Northrop Grumman. The company's defense division also secured a substantial $466 million contract from the U.S. Department of Defense for night vision device development, set for completion by 2033. Analysts at Bernstein and SocGen Group have raised their price target for L3Harris shares to $435 while maintaining an Outperform rating, citing the company's alignment with Pentagon priorities as a key factor. The defense sector, including L3Harris, has experienced volatility due to geopolitical developments, with Middle East conflicts initially boosting defense stocks before Iran nuclear talks led to some decline.
🏷️ Themes
Executive Transactions, Corporate Leadership, Defense Contracts, Market Analysis
📚 Related People & Topics
Insider trading
Trading using nonpublic information
# Insider Trading **Insider trading** is the trading of a public company's stock or other securities (such as bonds or stock options) based on **material, nonpublic information** about the company. While the practice is common, its legality is subject to complex regulations that vary significantly ...
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil extends surge on wider Middle East conflict, Strait of Hormuz closure Dollar surges to over five-week high on U.S.-Iran escalation; euro, sterling slip Gold prices climb amid boost to safe haven demand after U.S.-Iran escalation Gold price surge after Iran attack could fade, Pepperstone says FLASH SALE (South Africa Philippines Nigeria) FLASH SALE Rakita, L3Harris Technologies VP, sells $1.09 million in stock By Investing.com Insider Trading Published 03/03/2026, 12:43 AM Rakita, L3Harris Technologies VP, sells $1.09 million in stock 0 LHX 3.82% Melanie Rakita, Vice President & CHRO of L3Harris Technologies (NYSE:LHX), sold 3,129 shares of common stock for approximately $1.09 million, in a price range of $341.45 to $370.32, according to a Form 4 filing with the Securities and Exchange Commission. The sales occurred in two tranches, one on February 26, 2026, and another on March 2, 2026. On February 26, Rakita also acquired 1,020 shares of common stock, valued at $0, upon settlement of performance stock units. Additionally, 4,345 Non-Qualified Stock Options (Right to Buy) were acquired at a price of $0, and 1,127 Restricted Stock Units were also acquired at a price of $0. Another transaction on February 26 involved the disposition of 269 shares to cover tax obligations, valued at $95,538, priced at $355.16. According to InvestingPro analysis, the stock appears overvalued at current levels, trading at a P/E ratio of 44.17. In other recent news, L3Harris Technologies has made several noteworthy announcements. The company appointed Kenneth Sharp as its new Chief Financial Officer, effective March 16. Sharp brings extensive experience from his previous roles at Peraton Inc., DXC Technology, and Northrop Grumman’s Defense Systems business. Additionally, L3 Technologies, a division of L3Harris, secured a substantial $466 million contract from the U.S. Department of War for the development of night vision devices...
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