5 Dividend Stocks Insiders Are Selling

3. L3Harris Technologies Inc (NYSE:LHX)

Number of Hedge Fund Investors: 37

Defense giant L3Harris Technologies Inc (NYSE:LHX) saw insider selling on March 25 when its CEO Chris Kubasik sold 46,258 shares of L3Harris Technologies Inc (NYSE:LHX) at $212.18 per share. Since then the stock is up about 0.43%.

Scott T Mikuen, Senior VP/Secy/Gen Counsel at L3Harris Technologies Inc (NYSE:LHX), also sold 4,655 L3Harris Technologies Inc (NYSE:LHX) shares on March 15 at $212.38 per share. Since this transaction the stock price is almost flat.

Diamond Hill Mid Cap Strategy made the following comment about L3Harris Technologies, Inc. (NYSE:LHX) in its Q3 2023 investor letter:

“L3Harris Technologies, Inc. (NYSE:LHX) is a defense contractor focused primarily on communications, surveillance and electronic warfare. We anticipate the US’s defense budget will be better than expected over the next few years as the Defense Department focuses on preparing for peer-level threats — an area in which LHX’s capabilities fit nicely. We believe there is room for improvement in recent execution — particularly at recently acquired Aerojet Rocketdyne — and we think LHX’s new management team is well-qualified to improve results. We accordingly capitalized on a recent share-price decline to initiate a position at what we consider a compelling valuation.