Short Interest in L3Harris Technologies Inc (NYSE:LHX) Drops By 24.5%

L3Harris Technologies Inc (NYSE:LHX) was the target of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 2,011,813 shares, a drop of 24.5% from the January 29th total of 2,663,413 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average trading volume of 1,246,899 shares, the days-to-cover ratio is currently 1.6 days. Based on an average trading volume of 1,246,899 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LHX. Morgan Stanley raised their target price on shares of L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Citigroup raised their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on L3Harris Technologies from $340.00 to $395.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Trading Up 3.9%

LHX stock traded up $14.09 during midday trading on Monday, reaching $378.63. 2,947,290 shares of the company traded hands, compared to its average volume of 1,630,221. The firm has a market capitalization of $70.72 billion, a price-to-earnings ratio of 44.39, a P/E/G ratio of 2.63 and a beta of 0.64. L3Harris Technologies has a 52-week low of $195.72 and a 52-week high of $379.23. The business has a 50 day moving average of $335.43 and a 200-day moving average of $302.66. 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 released its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.10. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.47 EPS. As a group, sell-side analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 1.3%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 58.62%.

L3Harris Technologies News Summary

Here are the key news stories impacting L3Harris Technologies this week:

• Positive Sentiment: Argus upgraded L3Harris, which supports bullish investor expectations and likely boosted buying interest. Argus Upgrade
• Positive Sentiment: Management change: L3Harris named Kenneth (Ken) Sharp as SVP and CFO (effective March 16) and designated Ken Bedingfield to focus on scaling Missile Solutions and preparing that unit for an eventual IPO — a strategic move that signals management is prioritizing growth in high-demand missile manufacturing and unlocking segment value. CFO and Missile Solutions Announcement
• Negative Sentiment: Insider selling by two senior insiders: Samir Mehta disclosed a sale of 5,528 shares (~$2.05M at ~$370.32), cutting his holding by ~41.6%; the Form 4 filing is here. Mehta Form 4
• Negative Sentiment: Insider selling by Jon Rambeau: sale of 5,528 shares (~$2.05M at ~$370.32), reducing his stake by ~41.9%; filing here. Rambeau Form 4
• Negative Sentiment: VP Melanie Rakita disclosed two recent sales (2,378 shares at ~$341.45 on Feb 26 and 751 shares at ~$370.32 on Mar 2), a material reduction of her position — a common watchpoint for investors monitoring insider conviction. Rakita Form 4

Insider Buying and Selling at L3Harris Technologies

In other news, insider Samir Mehta sold 5,528 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the transaction, the insider directly owned 7,756 shares in the company, valued at $2,872,201.92. The trade was a 41.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Melanie Rakita sold 751 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $278,110.32. Following the sale, the vice president owned 4,131 shares of the company’s stock, valued at $1,529,791.92. This represents a 15.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,025 shares of company stock valued at $6,824,370 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds have recently bought and sold shares of LHX. Vanguard Group Inc. boosted its stake in shares of L3Harris Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 23,410,806 shares of the company’s stock valued at $6,872,710,000 after purchasing an additional 190,955 shares during the period. Capital World Investors increased its holdings in L3Harris Technologies by 2.9% during the 4th quarter. Capital World Investors now owns 11,645,419 shares of the company’s stock worth $3,418,747,000 after purchasing an additional 329,910 shares during the period. State Street Corp raised its position in L3Harris Technologies by 1.6% during the 4th quarter. State Street Corp now owns 8,919,368 shares of the company’s stock valued at $2,618,459,000 after purchasing an additional 141,442 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 5,146,713 shares of the company’s stock worth $1,505,444,000 after buying an additional 106,430 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock worth $1,032,716,000 after buying an additional 1,413,833 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

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.