L3Harris Technologies, Inc. (NYSE:LHX) Short Interest Down 6.6% in February

L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) saw a large decline in short interest in February. As of February 28th, there was short interest totalling 1,560,000 shares, a decline of 6.6% from the February 13th total of 1,670,000 shares. Based on an average daily volume of 1,290,000 shares, the short-interest ratio is presently 1.2 days. Approximately 0.8% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have recently issued reports on LHX shares. Cowen decreased their price objective on L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, January 12th. Citigroup started coverage on L3Harris Technologies in a report on Thursday, December 8th. They set a “neutral” rating and a $250.00 price objective on the stock. Wells Fargo & Company boosted their target price on L3Harris Technologies from $219.00 to $230.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. Truist Financial cut their target price on L3Harris Technologies from $264.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, January 30th. Finally, Robert W. Baird downgraded L3Harris Technologies from an “outperform” rating to a “neutral” rating and cut their target price for the company from $290.00 to $241.00 in a research report on Monday, December 19th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, L3Harris Technologies has a consensus rating of “Hold” and an average target price of $259.46.

Hedge Funds Weigh In On L3Harris Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of L3Harris Technologies by 1.8% in the third quarter. Vanguard Group Inc. now owns 17,282,623 shares of the company’s stock valued at $3,591,848,000 after acquiring an additional 302,279 shares in the last quarter. BlackRock Inc. lifted its position in L3Harris Technologies by 15.1% during the third quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock worth $2,975,043,000 after buying an additional 1,875,236 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in L3Harris Technologies by 6.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,364,874 shares of the company’s stock worth $2,158,070,000 after buying an additional 606,598 shares in the last quarter. Wells Fargo & Company MN lifted its position in L3Harris Technologies by 0.5% during the fourth quarter. Wells Fargo & Company MN now owns 5,043,774 shares of the company’s stock worth $1,050,164,000 after buying an additional 24,661 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in L3Harris Technologies by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 3,521,626 shares of the company’s stock worth $731,807,000 after buying an additional 25,717 shares in the last quarter. Hedge funds and other institutional investors own 82.18% of the company’s stock.

L3Harris Technologies Stock Up 0.6 %

Shares of LHX opened at $202.59 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 0.33. L3Harris Technologies has a 12 month low of $189.73 and a 12 month high of $264.71. The stock’s 50 day moving average is $206.79 and its two-hundred day moving average is $218.66. The firm has a market cap of $38.51 billion, a P/E ratio of 37.04, a PEG ratio of 6.40 and a beta of 0.71.

L3Harris Technologies (NYSE:LHX – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.21 by $0.06. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.36 billion. L3Harris Technologies had a return on equity of 13.20% and a net margin of 6.22%. L3Harris Technologies’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $3.30 earnings per share. Analysts predict that L3Harris Technologies will post 12.32 earnings per share for the current fiscal year.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Stockholders of record on Friday, March 10th will be given a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, March 9th. This is an increase from L3Harris Technologies’s previous quarterly dividend of $1.12. L3Harris Technologies’s dividend payout ratio (DPR) is 83.36%.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.