L3Harris Technologies Inc (NYSE: LHX) is 1.30% higher on its value in year-to-date trading and has touched a low of $160.25 and a high of $218.34 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The LHX stock was last observed hovering at around $215.72 in the last trading session, with the day’s loss setting it -2.36%.
Currently trading at $213.36, the stock is 0.12% and 1.81% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.62 million and changing -1.09% at the moment leaves the stock 11.08% off its SMA200. LHX registered 5.32% gain for a year compared to 6-month gain of 26.14%. The firm has a 50-day simple moving average (SMA 50) of $2.74 and a 200-day simple moving average (SMA200) of $18.13.
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The stock witnessed a 2.59% loss in the last 1 month and extending the period to 3 months gives it a 6.51%, and is 0.16% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.47% over the week and 1.53% over the month.
L3Harris Technologies Inc (LHX) has around 50000 employees, a market worth around $40.56B and $19.42B in sales. Current P/E ratio is 33.12 and Fwd P/E is 15.20. Profit margin for the company is 6.32%. Distance from 52-week low is 33.14% and -2.28% from its 52-week high. The company has generated returns on investments over the last 12 months (4.01%).
L3Harris Technologies Inc quarterly earnings per share for the current quarter are estimated at $2.9 with sales reaching $5.12B over the same period.The EPS is expected to grow by 3.07% this year, but quarterly earnings will post 9.10% year-over-year.
1,530 institutions hold shares in L3Harris Technologies Inc (LHX), with institutional investors hold 86.10% of the company’s shares. The shares outstanding are 189.81M, and float is at 189.38M with Short Float at 0.94%. Institutions hold 85.82% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 17.94 million shares valued at $3.51 billion. The investor’s holdings represent 9.49% of the LHX Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 17.75 million shares valued at $3.48 billion to account for 9.39% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 10.55 million shares representing 5.58% and valued at over $2.07 billion, while Capital World Investors holds 5.36% of the shares totaling 10.14 million with a market value of $1.99 billion.
L3Harris Technologies Inc (LHX) Insider Activity
The most recent transaction is an insider sale by ZOISS EDWARD J, the company’s Pres., Space & Airborne Sys. SEC filings show that ZOISS EDWARD J sold 1,459 shares of the company’s common stock on Feb 28 ’24 at a price of $211.57 per share for a total of $0.31 million. Following the sale, the insider now owns 27185.0 shares.
L3Harris Technologies Inc disclosed in a document filed with the SEC on Feb 27 ’24 that ZOISS EDWARD J (Pres., Space & Airborne Sys.) sold a total of 3,707 shares of the company’s common stock. The trade occurred on Feb 27 ’24 and was made at $211.47 per share for $0.78 million. Following the transaction, the insider now directly holds 28644.0 shares of the LHX stock.
Still, SEC filings show that on Nov 24 ’23, ZOISS EDWARD J (Pres., Space & Airborne Sys.) disposed off 4,742 shares at an average price of $190.00 for $0.9 million. The insider now directly holds 27,183 shares of L3Harris Technologies Inc (LHX).
