Short Interest in L3Harris Technologies, Inc. (NYSE:LHX) Grows By 18.4%

L3Harris Technologies, Inc. (NYSE:LHX) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,220,000 shares, an increase of 18.4% from the August 31st total of 1,030,000 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 816,100 shares, the days-to-cover ratio is currently 1.5 days.

L3Harris Technologies Trading Up 1.2 %

L3Harris Technologies stock traded up $2.80 during trading hours on Monday, reaching $237.79. 879,532 shares of the company’s stock traded hands, compared to its average volume of 937,505. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The firm’s 50 day moving average is $231.09 and its 200-day moving average is $222.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The firm has a market capitalization of $45.10 billion, a price-to-earnings ratio of 38.15, a PEG ratio of 2.04 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. On average, analysts predict that L3Harris Technologies will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 1.95%. The ex-dividend date was Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 10,527 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $230.00, for a total value of $2,421,210.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $10,951,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Scott T. Mikuen sold 10,527 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $230.00, for a total value of $2,421,210.00. Following the transaction, the senior vice president now directly owns 47,616 shares in the company, valued at approximately $10,951,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the transaction, the senior vice president now owns 47,616 shares in the company, valued at $11,189,760. The disclosure for this sale can be found here. Insiders have sold a total of 29,402 shares of company stock worth $6,861,855 in the last 90 days. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its holdings in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of L3Harris Technologies during the fourth quarter worth about $28,000. EntryPoint Capital LLC lifted its holdings in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Versant Capital Management Inc grew its position in shares of L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the period. Finally, Family Firm Inc. bought a new stake in L3Harris Technologies during the 2nd quarter worth approximately $45,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the topic of several recent research reports. Barclays lifted their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley lowered shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating and raised their price objective for the stock from $245.00 to $257.00 in a report on Friday, July 26th. Royal Bank of Canada cut L3Harris Technologies from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $250.00 to $240.00 in a report on Wednesday, August 14th. Finally, Susquehanna boosted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.