As of Wednesday close, L3Harris Technologies Inc.’s (NYSE:LHX) stock was up $0.55, moving up 0.31 percent to $177.80. The average number of shares traded per day over the past five days has been 1,235,060 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.47 fall in that time frame. In the last twenty days, the average volume was 946,745, while in the previous 50 days, it was 1,005,780.
Since last month, LHX stock retreated -5.28%. Shares of the company fell to $176.13 on 08/28/23, the lowest level in the past month. A 52-week high of $255.10 was reached on 02/13/23 after having rallying from a 52-week low of $174.55. Since the beginning of this year, LHX’s stock price has dropped by -14.61% or -$30.41, and marked a new high 7 times. However, the stock has declined by -30.30% since its 52-week high.
LHX stock investors should be aware that L3Harris Technologies Inc. (LHX) stock had its last reported insider trading activity 269 days ago on Dec 05. MEHNERT DANA A, the Pres., Communication Systems of the company, disposed of 1,985 shares for $227.25 on Dec 05. It resulted in a $451,091 divestment by the insider. GIRARD JAMES P sold 5,000 shares at an average price of $229.38 on Nov 08. The insider now owns 7,144 shares following the transaction. On Oct 31, Chair and CEO KUBASIK CHRISTOPHER E sold 20,000 shares at $245.22 apiece. The transaction was valued at $4,904,400.
Valuation Metrics
Right now, L3Harris Technologies Inc. (LHX) has a P/E ratio of about 42.29. The stock’s beta is 0.72. Besides these, the trailing price-to-sales (P/S) ratio of 1.86, the price-to-book (PB) ratio of 1.83, and the price-to-cash flow ratio of 18.26 may also be considered.
The latest dividend of $1.14 per share was paid out, remained unchanged from last year’s $1.14.
Financial Health
In the three months ended June 29, L3Harris Technologies Inc.’s quick ratio stood at 0.80, while its current ratio was 1.10, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.43, and the total debt-to-equity ratio was 0.48. On the profitability front, the trailing twelve-month gross margin is 27.00% percent. In the year ended June 29, EBITDA margin amounted to 18.11%, whereas operating margins totaled 5.20%. Based on annual data, LHX earned $4.93 billion in gross profit and brought in $17.06 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 3.60%. Return on equity (ROE) for the past 12 months was 4.40%.
In L3Harris Technologies Inc.’s quarter-end financial report for June 29, it reported total debt of $7.87 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. LHX’s revenue rose 13.32% to $4.37 billion during the quarter, while net income inched up to $4.69 billion. While analysts expected L3Harris Technologies Inc. to report $2.94 quarterly earnings, the actual figure was $2.97 per share, beating the consensus estimate by 1.00%. During the quarter, the company generated $690.0 million in EBITDA. The liabilities of L3Harris Technologies Inc. were 16.83 billion at the end of its most recent quarter ended June 29, and its total debt was $9.52 billion. The value of shareholders’ equity is $189.13 million.
Technical Picture
This quick technical analysis looks at L3Harris Technologies Inc.’s (LHX) price momentum. With a historical volatility rate of 6.03%, the RSI 9-day stood at 27.49% on 30 August.
With respect to its five-day moving average, the current L3Harris Technologies Inc. price is down by -0.26% percent or -$0.47. At present, LHX shares trade -4.37% below its 20-day simple moving average and -9.75% percent below its 100-day simple moving average. However, the stock is currently trading approximately -8.96% below its SMA50 and -25.71% below its SMA200.
Stochastic coefficient K was 12.05% and Stochastic coefficient D was 12.18%, while ATR was 2.65. Given the Stochastic reading of 12.71% for the 14-day period, the RSI (14) reading has been calculated as 31.25%. As of today, the MACD Oscillator reading stands at -1.21, while the 14-day reading stands at -3.10.
Analyst Ratings
L3Harris Technologies Inc. downgraded its rating on L3Harris Technologies Inc. (NYSE: LHX) to a Mkt perform in a note to investors on August 28, 2023. The analysts firm previously had an Outperform rating on the stock.L3Harris Technologies Inc. (LHX) has been rated Overweight by analysts. According to 1 brokerage firm, LHX is a sell, and 11 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate L3Harris Technologies Inc. stock as buy, with 10 recommending it as overweight.
With a median target price of $223.50, the current consensus forecast for the stock is $164.00 – $338.00. Based on these forecasts, analysts predict L3Harris Technologies Inc. (LHX) will achieve an average price target of $234.22.
