Short Interest in L3Harris Technologies, Inc. (NYSE:LHX) Declines By 11.7% – MarketBeat

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L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 2,340,000 shares, a decline of 11.7% from the October 31st total of 2,650,000 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 2.0 days.

L3Harris Technologies Trading Up 2.0 %

LHX stock traded up $4.61 during mid-day trading on Friday, reaching $230.00. 999,948 shares of the stock traded hands, compared to its average volume of 1,237,706. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 1.10. L3Harris Technologies has a one year low of $200.71 and a one year high of $279.71. The stock has a market capitalization of $43.79 billion, a PE ratio of 39.93, a PEG ratio of 6.47 and a beta of 0.71. The business has a 50-day moving average price of $229.25 and a two-hundred day moving average price of $231.97.
L3Harris Technologies (NYSE:LHX – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.21). The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.21 earnings per share. Equities research analysts expect that L3Harris Technologies will post 12.85 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Stockholders of record on Friday, November 18th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, November 17th. L3Harris Technologies’s payout ratio is presently 77.78%.

Analyst Ratings Changes

Several equities analysts have recently commented on LHX shares. Wolfe Research started coverage on shares of L3Harris Technologies in a report on Monday, October 10th. They issued a “peer perform” rating on the stock. Credit Suisse Group started coverage on shares of L3Harris Technologies in a report on Tuesday, October 11th. They issued an “outperform” rating and a $267.00 target price on the stock. Robert W. Baird lowered their target price on shares of L3Harris Technologies from $332.00 to $290.00 and set an “outperform” rating on the stock in a report on Monday, October 31st. StockNews.com began coverage on shares of L3Harris Technologies in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada began coverage on shares of L3Harris Technologies in a research note on Monday, August 29th. They set an “outperform” rating and a $285.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $269.42.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, VP James P. Girard sold 12,460 shares of L3Harris Technologies stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the transaction, the vice president now owns 12,144 shares of the company’s stock, valued at $2,671,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other L3Harris Technologies news, VP James P. Girard sold 12,460 shares of L3Harris Technologies stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the transaction, the vice president now owns 12,144 shares of the company’s stock, valued at $2,671,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 20,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the transaction, the chief executive officer now directly owns 98,926 shares in the company, valued at approximately $24,258,633.72. The disclosure for this sale can be found here. Insiders have sold 37,460 shares of company stock valued at $8,792,500 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Grimes & Company Inc. grew its holdings in L3Harris Technologies by 3.4% during the 3rd quarter. Grimes & Company Inc. now owns 1,236 shares of the company’s stock worth $257,000 after acquiring an additional 41 shares in the last quarter. Valmark Advisers Inc. grew its holdings in L3Harris Technologies by 0.9% during the 2nd quarter. Valmark Advisers Inc. now owns 4,504 shares of the company’s stock worth $1,089,000 after acquiring an additional 42 shares in the last quarter. Boston Financial Mangement LLC grew its holdings in L3Harris Technologies by 3.8% during the 1st quarter. Boston Financial Mangement LLC now owns 1,165 shares of the company’s stock worth $289,000 after acquiring an additional 43 shares in the last quarter. Oakworth Capital Inc. grew its holdings in L3Harris Technologies by 8.6% during the 3rd quarter. Oakworth Capital Inc. now owns 543 shares of the company’s stock worth $113,000 after acquiring an additional 43 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in L3Harris Technologies by 15.1% during the 2nd quarter. Global Retirement Partners LLC now owns 343 shares of the company’s stock worth $83,000 after acquiring an additional 45 shares in the last quarter. 83.00% of the stock is currently owned by institutional investors.

About L3Harris Technologies

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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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