Short Interest in L3Harris Technologies, Inc. (NYSE:LHX) Decreases By 17.5%

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on LHX. JPMorgan Chase & Co. dropped their price objective on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays cut their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Truist Financial lowered their price objective on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Raymond James lowered shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $265.87.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. This trade represents a 17.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 7,889 shares of company stock valued at $1,800,572. Corporate insiders own 0.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Cetera Investment Advisers grew its holdings in L3Harris Technologies by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 64,747 shares of the company’s stock worth $14,541,000 after acquiring an additional 1,217 shares in the last quarter. Sanctuary Advisors LLC bought a new position in L3Harris Technologies in the second quarter worth approximately $5,770,000. Czech National Bank lifted its holdings in L3Harris Technologies by 6.9% during the third quarter. Czech National Bank now owns 38,644 shares of the company’s stock worth $9,192,000 after buying an additional 2,499 shares during the period. Park Avenue Securities LLC boosted its position in L3Harris Technologies by 3.3% during the 3rd quarter. Park Avenue Securities LLC now owns 5,526 shares of the company’s stock valued at $1,314,000 after acquiring an additional 176 shares in the last quarter. Finally, Cullen Investment Group LTD. increased its holdings in shares of L3Harris Technologies by 3.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 7,796 shares of the company’s stock valued at $1,855,000 after acquiring an additional 284 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX traded down $0.07 during mid-day trading on Friday, reaching $211.99. The stock had a trading volume of 1,266,317 shares, compared to its average volume of 1,081,654. The business has a fifty day moving average of $220.51 and a 200 day moving average of $232.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The firm has a market cap of $40.21 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. Equities analysts predict that L3Harris Technologies will post 13.07 EPS for the current year.

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.