A Pres., Communication Systems Of L3Harris Technologies Inc. (LHX) Sells 1985.0 Shares

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L3Harris Technologies Inc. (NYSE:LHX) saw an upside of 1.03% to $196.73 after adding $2.01 on Wednesday. The 5-day average trading volume is 1,458,846 shares of the company’s common stock. It has gained $197.52 in the past week and touched a new high 4 times within the past 5 days. An average of 1,355,957 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,292,199.

LHX’s 1-month performance is -5.92% or -$10.44 on its low of $189.73 reached on 01/20/23. The company’s shares have touched a 52-week low of $189.73 and high of $279.71, with the stock’s rally to the 52-week high happening on 01/06/23. YTD, LHX has lost -6.48% or -$12.41 and has reached a new high 3 times. However, the current price is down -29.67% from the 52-week high price.

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Insider Transactions

LHX stock investors last saw insider trading activity on Dec 05.MEHNERT DANA A (Pres., Communication Systems) most recently sold 1,985 shares at $227.25 per share on Dec 05. This transaction cost the insider $451,091. Vice President & CHRO, GIRARD JAMES P, sold 5,000 shares at a price of $229.38 on Nov 08. Then, on Oct 31, Chair and CEO KUBASIK CHRISTOPHER E sold 20,000 shares at a price of $245.22 per share. This transaction amounted to $4,904,400.

Valuation Metrics

LHX stock has a beta of 0.71. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.19 while the price-to-book (PB) in the most recent quarter is 2.03, with the price to cash flow ratio at 35.69.

L3Harris Technologies Inc.’s quick ratio for the period ended September 29 was 0.90, with the current ratio over the same period at 1.10. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.33, while the total debt to equity was 0.38. In terms of profitability, the gross margin trailing 12 months is 29.30%. The firm’s gross profit as reported stood at $5.38 billion against revenue of $17.81 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected LHX to announce $3.19 per share in earnings in its latest quarter, but it posted $3.06, representing a -4.10% surprise. EBITDA for the quarter stood at more than $684.0 million. LHX stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 14.94 billion, with total debt at $7.78 billion. Shareholders hold equity totaling $190.4 million.

Let’s look briefly at L3Harris Technologies Inc. (LHX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 37.34% to suggest the stock is trending Neutral, with historical volatility in this time period at 12.52%.

The stock’s 5-day moving average is $193.75, reflecting a +1.47% or $2.83 change from its current price. LHX is currently trading -5.06% above its 20-day SMA, -14.19% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -18.19% and SMA200 by-24.92%.

Stochastic %K and %D was 24.50% and 18.55% and the average true range (ATR) pointed at 4.30. The RSI (14) points at 34.26%, while the 14-day stochastic is at 28.63% with the period’s ATR at 4.47. The stock’s 9-day MACD Oscillator is pointing at 0.12 and -2.83 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for L3Harris Technologies Inc. (NYSE: LHX), Robert W. Baird downgraded it to a Neutral rating. They previously had an Outperform rating on the stock.

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