L3Harris Technologies, Inc. (NYSE:LHX) Short Interest Update

L3Harris Technologies, Inc. (NYSE:LHX) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totalling 1,930,000 shares, a drop of 17.5% from the December 31st total of 2,340,000 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 995,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Barclays decreased their target price on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. UBS Group lifted their price objective on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $265.87.

L3Harris Technologies Trading Up 0.5 %

Shares of LHX traded up $1.06 during trading hours on Monday, reaching $213.07. The stock had a trading volume of 1,432,978 shares, compared to its average volume of 1,262,927. The company has a market cap of $40.41 billion, a P/E ratio of 27.07, a P/E/G ratio of 1.74 and a beta of 0.75. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. L3Harris Technologies has a 52 week low of $200.18 and a 52 week high of $265.74. The firm has a 50-day moving average of $220.51 and a 200 day moving average of $232.17.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. On average, sell-side analysts expect that L3Harris Technologies will post 13.8 earnings per share for the current fiscal year.

Insider Activity

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 4,901 shares of company stock worth $1,059,757. 0.82% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC boosted its stake in L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares during the period. Koshinski Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 2.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after buying an additional 42 shares during the last quarter. Blossom Wealth Management boosted its stake in shares of L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after buying an additional 43 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in shares of L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after buying an additional 43 shares during the last quarter. Finally, Archer Investment Corp boosted its stake in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after buying an additional 43 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Company Profile

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.