The stock of L3Harris Technologies Inc. (NYSE:LHX) increased by $1.54 on Friday to finish at $187.95, up 0.83 percent. The last five days have seen an average of 805,160 shares of common stock traded. 7 times new highs were reached in the current year, with a fall of -$20.26. The average number of shares traded over the last 20 days was 1,213,745, while the average volume over the last 50 days totaled 1,035,526.
LHX stock dropped -5.30% since last month. On 08/03/23, the company’s shares reached a one-month low of $182.35. The stock touched a high of $255.10 on 02/13/23, after rallying from a low of $174.55 in 52 weeks. The price of LHX stock has declined by -9.73% or -$20.26 this year, reaching a new high 7 times. Still, the stock price is down -26.32% from the 52-week high.
Insider Transactions
LHX stock investors should be aware that L3Harris Technologies Inc. (LHX) stock had its last reported insider trading activity 252 days ago on Dec 05. On Dec 05, Pres., Communication Systems MEHNERT DANA A sold 1,985 shares at $227.25 each. This transaction resulted in the insider making $451,091. On Nov 08, GIRARD JAMES P sold 5,000 shares at a price of US$229.38. After the transaction, the insider now owns 7,144 shares. Chair and CEO KUBASIK CHRISTOPHER E had earlier sold 20,000 shares on Oct 31 for $245.22 a share. The transaction was completed for $4,904,400.
Valuation Metrics
L3Harris Technologies Inc. (LHX) has a trailing price-to-earnings (P/E) ratio of 44.71. Beta for the stock is 0.71. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.96, the price-to-book (PB) ratio of 1.93, and the price-to-cash flow ratio of 19.21.
Company paid $1.14 per share in dividends, remained unchanged from $1.14 last year.
Financial Health
For the recent quarter, L3Harris Technologies Inc.’s quick ratio was 0.80, while its current ratio was 1.10, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 0.43, and the total debt to equity ratio is 0.48. As far as profitability goes, gross margin for the trailing twelve months is 27.00% percent. L3Harris Technologies Inc.’s EBITDA margin for the recent year was 18.11%, whereas its operating margin stood at 5.20% for the same period. Based on annual data, it had gross profit of $4.93 billion and revenue of $17.06 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. LHX’s return on assets (ROA) during the last 12 months has been 2.30%. There was a 3.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 4.40%.
Earnings Surprise
A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $4.69 billion, while revenues rose by 13.32% to $4.37 billion. EBITDA was $690.0 million for the quarter. At the end of L3Harris Technologies Inc.’s most recent quarter, its liabilities totaled 16.83 billion, while its total debt was $9.52 billion. Equity owned by shareholders amounts to $189.13 million.
Technical Picture
Here’s a quick look at L3Harris Technologies Inc.’s (LHX) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 43.42%, suggesting the stock is Neutral, with a 13.05% historical volatility rate.
The stochastic %K and %D were 22.06% and 20.42% respectively, while the average true range (ATR) was 3.50. Based on the 14-day stochastic reading of 25.62%, the RSI (14) reading is 43.65%. On the 9-day MACD Oscillator, the stock is at 0.47, and the 14-day reading is at -2.53.
Analyst Ratings
L3Harris Technologies Inc. (NYSE: LHX) was downgraded by Robert W. Baird to a a Neutral rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned L3Harris Technologies Inc. (LHX) an Overweight rating. LHX is a stock that is recommended for selling by 1 brokerage firm, while 10 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 3 rates it overweight and 10 others recommend it as a buy.
What is LHX’s price target for the next 12 months?
The current consensus forecast for the stock is between $164.00 and $338.00, with a median target price of $232.00. In analyzing these forecasts, the average price target given by analysts for L3Harris Technologies Inc. (LHX) is $235.67.
