L3Harris Technologies Inc (NYSE:LHX) Sees Large Decrease in Short Interest

L3Harris Technologies Inc (NYSE:LHX) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 2,663,413 shares, a decline of 23.8% from the January 15th total of 3,494,763 shares. Based on an average daily trading volume, of 1,683,169 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.4% of the company’s shares are short sold. Currently, 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,683,169 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

LHX has been the subject of several research reports. TD Cowen reissued a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Wall Street Zen lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. UBS Group upped their target price on shares of L3Harris Technologies to $323.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Transactions at L3Harris Technologies

In related news, insider Samir Mehta sold 4,840 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the completion of the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by insiders.

Institutional Trading of L3Harris Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Fideuram Asset Management Ireland dac bought a new position in L3Harris Technologies in the fourth quarter valued at about $25,000. Caitlin John LLC purchased a new stake in shares of L3Harris Technologies during the 3rd quarter valued at about $28,000. American National Bank & Trust lifted its stake in shares of L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after purchasing an additional 30 shares during the period. JPL Wealth Management LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth approximately $29,000. Finally, Lloyd Advisory Services LLC. bought a new stake in L3Harris Technologies during the fourth quarter valued at approximately $30,000. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Up 1.5%

Shares of LHX traded up $5.17 during trading hours on Friday, hitting $345.07. The company had a trading volume of 1,029,443 shares, compared to its average volume of 1,413,557. The stock has a market capitalization of $64.55 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 2.49 and a beta of 0.64. The firm has a fifty day moving average price of $321.69 and a 200-day moving average price of $296.95. L3Harris Technologies has a 52-week low of $193.09 and a 52-week high of $369.59. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.02 and a current ratio of 1.19.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.76 by $0.10. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.47 EPS. On average, equities research analysts forecast that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, March 6th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.20. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.