Short Interest in L3Harris Technologies Inc (NYSE:LHX) Rises By 22.5%

L3Harris Technologies Inc (NYSE:LHX) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 3,494,763 shares, an increase of 22.5% from the December 31st total of 2,851,769 shares. Based on an average trading volume of 2,143,655 shares, the short-interest ratio is presently 1.6 days. Currently, 1.9% of the company’s stock are short sold. Currently, 1.9% of the company’s stock are short sold. Based on an average trading volume of 2,143,655 shares, the short-interest ratio is presently 1.6 days.

Analysts Set New Price Targets

Several brokerages recently commented on LHX. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded L3Harris Technologies from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 11th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of L3Harris Technologies in a research report on Friday. Fifteen 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, L3Harris Technologies has a consensus rating of “Moderate Buy” and an average price target of $322.57.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total value of $4,266,179.55. Following the completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in LHX. Pure Financial Advisors LLC boosted its stake in L3Harris Technologies by 36.1% during the fourth quarter. Pure Financial Advisors LLC now owns 2,268 shares of the company’s stock valued at $666,000 after buying an additional 602 shares during the period. Advisor OS LLC grew its stake in shares of L3Harris Technologies by 4.4% during the fourth quarter. Advisor OS LLC now owns 1,353 shares of the company’s stock valued at $397,000 after buying an additional 57 shares during the last quarter. Midwest Trust Co grew its position in L3Harris Technologies by 12.2% during the 4th quarter. Midwest Trust Co now owns 1,623 shares of the company’s stock worth $476,000 after acquiring an additional 176 shares during the last quarter. NewEdge Wealth LLC increased its stake in shares of L3Harris Technologies by 26.7% in the fourth quarter. NewEdge Wealth LLC now owns 10,805 shares of the company’s stock worth $3,172,000 after buying an additional 2,280 shares during the period. Finally, Ethic Inc. increased its position in shares of L3Harris Technologies by 10.9% in the fourth quarter. Ethic Inc. now owns 17,770 shares of the company’s stock valued at $5,217,000 after acquiring an additional 1,753 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Up 3.3%

LHX opened at $351.45 on Wednesday. The firm has a market capitalization of $65.74 billion, a PE ratio of 41.20, a P/E/G ratio of 2.19 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $369.59. The company’s 50-day moving average is $310.91 and its 200 day moving average is $292.90.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter last year, the company earned $3.47 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts predict that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is 56.27%.

L3Harris Technologies Company Profile

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.