L3Harris Technologies, Inc. (NYSE:LHX) Short Interest Update

L3Harris Technologies, Inc. (NYSE:LHX) saw a large decline in short interest in January. As of January 15th, there was short interest totalling 1,930,000 shares, a decline of 17.5% from the December 31st total of 2,340,000 shares. Based on an average daily volume of 995,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

LHX has been the topic of several research reports. Truist Financial reduced their price target on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $240.00 to $300.00 in a report on Thursday, October 31st. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday, November 26th. Finally, Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $265.87.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $247.93, for a total value of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 7,889 shares of company stock worth $1,800,572. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new stake in shares of L3Harris Technologies in the fourth quarter valued at approximately $30,000. Archer Investment Corp lifted its position in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of L3Harris Technologies during the 4th quarter worth about $33,000. Kennebec Savings Bank bought a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. Finally, New Millennium Group LLC increased its position in shares of L3Harris Technologies by 776.2% in the fourth quarter. New Millennium Group LLC now owns 184 shares of the company’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Trading Down 0.0 %

L3Harris Technologies stock traded down $0.07 during mid-day trading on Friday, hitting $211.99. 1,266,317 shares of the company’s stock were exchanged, compared to its average volume of 1,081,654. L3Harris Technologies has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $40.21 billion, a P/E ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75. The company’s 50 day simple moving average is $220.51 and its 200-day simple moving average is $232.27.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. On average, equities analysts anticipate that L3Harris Technologies will post 13.07 earnings per share for the current year.

L3Harris Technologies Company Profile

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.