L3Harris Technologies Inc. [NYSE: LHX] loss -1.66% or -3.18 points to close at $188.25 with a heavy trading volume of 1118455 shares. It opened the trading session at $190.22, the shares rose to $191.68 and dropped to $187.13, the range by which the price of stock traded the whole day. The daily chart for LHX points out that the company has recorded -5.44% loss over the past six months. However, it is still -32.56% lower than its most recent low trading price.
If we look at the average trading volume of 1.61M shares, LHX reached to a volume of 1118455 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about L3Harris Technologies Inc. [LHX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LHX shares is $240.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LHX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
RBC Capital Mkts have made an estimate for L3Harris Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 21, 2020. While these analysts kept the previous recommendation, Seaport Global Securities raised their target price to Buy. The new note on the price target was released on May 19, 2020, representing the official price target for L3Harris Technologies Inc. stock. Previously, the target price had yet another raise to $250, while BofA/Merrill analysts kept a Buy rating on LHX stock.
The Average True Range (ATR) for L3Harris Technologies Inc. is set at 5.94, with the Price to Sales ratio for LHX stock in the period of the last 12 months amounting to 2.62. The Price to Book ratio for the last quarter was 1.87, with the Price to Cash per share for the same quarter was set at 3.02. Price to Free Cash Flow for LHX in the course of the last twelve months was 45.74 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for LHX stock
L3Harris Technologies Inc. [LHX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.20. With this latest performance, LHX shares gained by 4.65% in over the last four-week period, additionally sinking by -5.44% over the last 6 months – not to mention a drop of -5.11% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LHX stock in for the last two-week period is set at 44.62, with the RSI for the last a single of trading hit 39.56, and the three-weeks RSI is set at 47.21 for L3Harris Technologies Inc. [LHX]. The present Moving Average for the last 50 days of trading for this stock 190.80, while it was recorded at 190.39 for the last single week of trading, and 200.03 for the last 200 days.
L3Harris Technologies Inc. [LHX]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and L3Harris Technologies Inc. [LHX] shares currently have an operating margin of +12.20 and a Gross Margin at +28.92. L3Harris Technologies Inc.’s Net Margin is presently recorded at +8.88.
Return on Equity for this stock inclined to 12.71, with Return on Assets sitting at 6.83.
L3Harris Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.40.
L3Harris Technologies Inc. [LHX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, L3Harris Technologies Inc. posted 2.42/share EPS, while the average EPS was predicted by analysts to be reported at 2.26/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LHX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for L3Harris Technologies Inc. go to 13.23%.
An analysis of insider ownership at L3Harris Technologies Inc. [LHX]
There are presently around $35,583 million, or 87.10% of LHX stock, in the hands of institutional investors. The top three institutional holders of LHX stocks are: VANGUARD GROUP INC with ownership of 19,280,611, which is approximately 2.511% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 16,659,281 shares of the stock with an approximate value of $3.19 billion in LHX stocks shares; and STATE STREET CORP, currently with $1.77 billion in LHX stock with ownership of nearly -1.252% of the company’s market capitalization.
Positions in L3Harris Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 540 institutional holders increased their position in L3Harris Technologies Inc. [NYSE:LHX] by around 18,188,105 shares. Additionally, 509 investors decreased positions by around 17,316,578 shares, while 150 investors held positions by with 150,377,882 shares. The mentioned changes placed institutional holdings at 185,882,565 shares, according to the latest SEC report filing. LHX stock had 116 new institutional investments in for a total of 3,854,731 shares, while 114 institutional investors sold positions of 2,579,710 shares during the same period.