Short Interest in L3Harris Technologies, Inc. (NYSE:LHX) Rises By 25.6%

L3Harris Technologies, Inc. (NYSE:LHX) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 1,470,000 shares, an increase of 25.6% from the May 31st total of 1,170,000 shares. Based on an average trading volume of 871,700 shares, the short-interest ratio is currently 1.7 days. Approximately 0.8% of the company’s stock are sold short.

L3Harris Technologies Price Performance

NYSE:LHX traded up $1.64 during mid-day trading on Tuesday, hitting $223.60. The company’s stock had a trading volume of 496,316 shares, compared to its average volume of 1,010,641. L3Harris Technologies has a fifty-two week low of $160.25 and a fifty-two week high of $228.13. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $42.41 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 1.88 and a beta of 0.72. The stock has a fifty day moving average of $219.97 and a 200-day moving average of $212.94.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to the consensus estimate of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.86 EPS. As a group, equities analysts forecast that L3Harris Technologies will post 12.93 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Tuesday, June 4th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insider Activity

In other news, VP Sean J. Stackley sold 3,354 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the transaction, the vice president now directly owns 14,186 shares in the company, valued at approximately $3,074,531.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Sean J. Stackley sold 3,354 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total value of $726,912.42. Following the completion of the sale, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold a total of 82,898 shares of company stock worth $18,558,167 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bfsg LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at $25,000. Transcendent Capital Group LLC acquired a new position in L3Harris Technologies in the 4th quarter worth $28,000. KB Financial Partners LLC boosted its stake in shares of L3Harris Technologies by 96.5% during the 3rd quarter. KB Financial Partners LLC now owns 167 shares of the company’s stock worth $29,000 after buying an additional 82 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of L3Harris Technologies by 178.7% during the 4th quarter. Blue Trust Inc. now owns 170 shares of the company’s stock worth $36,000 after buying an additional 109 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in shares of L3Harris Technologies by 70.4% during the 1st quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock worth $36,000 after buying an additional 69 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Barclays boosted their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Alembic Global Advisors raised shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. boosted their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $231.80.

About L3Harris Technologies

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.