L3Harris Technologies, Inc. (NYSE:LHX) Short Interest Up 24.0% in September – MarketBeat

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L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,120,000 shares, a growth of 24.0% from the August 31st total of 1,710,000 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 949,600 shares, the short-interest ratio is currently 2.2 days.

L3Harris Technologies Price Performance

Shares of NYSE:LHX opened at $207.83 on Friday. L3Harris Technologies has a 1-year low of $200.71 and a 1-year high of $279.71. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.01. The business has a fifty day moving average price of $230.64 and a 200-day moving average price of $237.30. The company has a market capitalization of $39.77 billion, a PE ratio of 21.40, a PEG ratio of 4.69 and a beta of 0.68.
L3Harris Technologies (NYSE:LHX – Get Rating) last announced its earnings results on Thursday, July 28th. The company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $0.07. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.23 billion. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period last year, the firm posted $3.26 earnings per share. As a group, equities analysts expect that L3Harris Technologies will post 13.45 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, September 1st. L3Harris Technologies’s payout ratio is 46.14%.

Insider Activity

In other L3Harris Technologies news, SVP Scott T. Mikuen sold 8,518 shares of L3Harris Technologies stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $237.95, for a total transaction of $2,026,858.10. Following the transaction, the senior vice president now directly owns 44,735 shares in the company, valued at $10,644,693.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Scott T. Mikuen sold 8,518 shares of L3Harris Technologies stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $237.95, for a total value of $2,026,858.10. Following the sale, the senior vice president now owns 44,735 shares of the company’s stock, valued at $10,644,693.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP James P. Girard sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $240.00, for a total value of $1,800,000.00. Following the transaction, the vice president now directly owns 10,811 shares in the company, valued at approximately $2,594,640. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,518 shares of company stock valued at $5,626,858. Company insiders own 1.00% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of large investors have recently added to or reduced their stakes in LHX. Vanguard Group Inc. boosted its holdings in L3Harris Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 16,969,557 shares of the company’s stock valued at $4,216,426,000 after acquiring an additional 186,824 shares during the period. Capital World Investors increased its position in L3Harris Technologies by 1.0% during the 1st quarter. Capital World Investors now owns 15,022,227 shares of the company’s stock valued at $3,732,645,000 after buying an additional 150,987 shares in the last quarter. BlackRock Inc. increased its position in L3Harris Technologies by 1.4% during the 1st quarter. BlackRock Inc. now owns 12,454,934 shares of the company’s stock valued at $3,094,678,000 after buying an additional 174,922 shares in the last quarter. State Street Corp increased its holdings in shares of L3Harris Technologies by 8.1% in the first quarter. State Street Corp now owns 8,886,247 shares of the company’s stock valued at $2,207,966,000 after purchasing an additional 668,800 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of L3Harris Technologies by 11.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,309,912 shares of the company’s stock valued at $2,008,506,000 after purchasing an additional 875,587 shares during the period. Institutional investors own 83.00% of the company’s stock.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research analyst reports. Royal Bank of Canada began coverage on shares of L3Harris Technologies in a report on Monday, August 29th. They set an “outperform” rating and a $285.00 price target for the company. Wells Fargo & Company cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and set a $238.00 price objective on the stock. in a research report on Wednesday. Finally, TheStreet cut shares of L3Harris Technologies from a “b” rating to a “c” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.70.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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