L3Harris Technologies Inc. [NYSE: LHX] closed the trading session at $173.34 on 07/22/20. The day’s price range saw the stock hit a low of $167.65, while the highest price level was $174.09. As of July 22, the company came up with the update that it has been awarded an eight-year indefinite-delivery, indefinite-quantity (IDIQ) contract from the Canadian Commercial Corporation (CCC) worth $380 million.
Under the following contract, LL3Harris will provide CCC with WESCAM MX-Series products and services supporting the global U.S. Army surveillance and targeting operations. The contract allows further upgrades and support for the United States Amry’s aerostat, fixed-wing, and unmanned platforms through the expansion of Foreign Military Sales (FMS) requirements.
The stocks have a year to date performance of -12.40 percent and weekly performance of 3.90 percent. The stock has been moved at -21.18 percent over the last six months. The stock has performed -5.90 percent around the most recent 30 days and changed -9.61 percent over the most recent 3-months.
If compared to the average trading volume of 1.66M shares, LHX reached to a volume of 964999 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 5.48, with the Price to Sales ratio for LHX stock in the period of the last 12 months amounting to 2.33. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 3.13.
LHX stock trade performance evaluation
L3Harris Technologies Inc. [LHX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.90. With this latest performance, LHX shares dropped by -5.90% in over the last four-week period, additionally sinking by -21.18% over the last 6 months – not to mention a drop of -10.90% 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 52.54, with the RSI for the last a single of trading hit 57.31, and the three-weeks RSI is set at 47.83 for L3Harris Technologies Inc. [LHX]. The present Moving Average for the last 50 days of trading for this stock 181.32, while it was recorded at 169.26 for the last single week of trading, and 195.36 for the last 200 days.
L3Harris Technologies Inc. [LHX]: An insightful look at the core fundamentals
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 Total Capital for LHX is now 11.98, given the latest momentum, and Return on Invested Capital for the company is 8.95. Return on Equity for this stock inclined to 12.71, with Return on Assets sitting at 6.83. When it comes to the capital structure of this company, L3Harris Technologies Inc. [LHX] has a Total Debt to Total Equity ratio set at 34.82. Additionally, LHX Total Debt to Total Capital is recorded at 25.83, with Total Debt to Total Assets ending up at 20.51. Long-Term Debt to Equity for the company is recorded at 33.09, with the Long-Term Debt to Total Capital now at 24.55.
Receivables Turnover for the company is 7.74 with a Total Asset Turnover recorded at a value of 0.77.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.
Earnings per share (EPS) analysis for L3Harris Technologies Inc. [LHX] stock
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%.
L3Harris Technologies Inc. [LHX]: Insider Ownership positions
There are presently around $31,339 million, or 87.30% 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 0.20% of the total institutional ownership; BLACKROCK INC., holding 16,659,281 shares of the stock with an approximate value of $2.81 billion in LHX stocks shares; and STATE STREET CORP, currently with $1.56 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 533 institutional holders increased their position in L3Harris Technologies Inc. [NYSE:LHX] by around 17,827,095 shares. Additionally, 504 investors decreased positions by around 17,512,658 shares, while 152 investors held positions by with 150,219,053 shares. The mentioned changes placed institutional holdings at 185,558,806 shares, according to the latest SEC report filing. LHX stock had 103 new institutional investments in for a total of 3,278,049 shares, while 111 institutional investors sold positions of 2,823,723 shares during the same period.