Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. L3Harris Technologies Inc. shares valued at $4,904,400 were sold by KUBASIK CHRISTOPHER E on Oct 31. At $245.22 per share, KUBASIK CHRISTOPHER E sold 20,000 shares. The insider’s holdings dropped to 98,926 shares worth approximately $23.25 million following the completion of this transaction.
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Also, GIRARD JAMES P sold 12,460 shares, netting a total of over 2,741,200 in proceeds. Following the sale of shares at $220.00 each, the insider now holds 12,144 shares.
Before that, ZOISS EDWARD J had sold 10,000 shares from its account. In a trade valued at $2,300,000, the Pres., Space & Airborne Sys. traded L3Harris Technologies Inc. shares for $230.00 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $6.41 million.
As published in a research note from Raymond James on October 28, 2022, L3Harris Technologies Inc. [LHX] has been rated down from an Outperform to a Mkt perform. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid October. As of October 11, 2022, Wolfe Research has initiated its “Peer perform” rating for LHX. Earlier on September 28, 2022, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for LHX stock which previously was a “an Overweight”.
Analyzing LHX Stock Performance
On Thursday, L3Harris Technologies Inc. [NYSE: LHX] plunged -1.60% to $234.98. The stock’s lowest price that day was $234.40, but it reached a high of $237.66 in the same session. During the last five days, there has been a drop of approximately -7.05%. Over the course of the year, L3Harris Technologies Inc. shares have jumped approximately 10.20%. Shares of the company reached a 52-week high of $279.71 on 03/07/22 and a 52-week low of $206.04 on 02/01/22. A 50-day SMA is recorded $230.65, while a 200-day SMA reached $235.75. Nevertheless, trading volume fell to 1.32 million shares from 1.13 million shares the previous day.
Support And Resistance Levels for L3Harris Technologies Inc. (LHX)
According to the 24-hour chart, there is a support level at 233.70, which, if violated, would cause prices to drop to 232.42. In the upper region, resistance lies at 236.96. The next price resistance is at 238.94. RSI (Relative Strength Index) is 48.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.06, which suggests the price will decrease in the coming days. Percent R is at 57.17%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is L3Harris Technologies Inc. subject to short interest?
Stocks of L3Harris Technologies Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 90000.0 shares to 2.31 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.4 million shares. A decline of -3.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.7 of the overall float, the days-to-cover ratio (short ratio) decline to 2.7.
Which companies own the most shares of L3Harris Technologies Inc. (LHX)?
According to The Vanguard Group, Inc. filings, the company currently owns 16,232,605 shares, which is about 8.48% of the total LHX shares outstanding. The investor’s shares have appreciated by 9,996 from its previous 13-F filing of 16222609.0 shares. With the completion of the buy transaction, Capital Research & Management Co’s stake is now worth $3,298,689,814. BlackRock Fund Advisors reduced a -0.21% interest valued at $1.9 billion while SSgA Funds Management, Inc. sold a -415,612 stake. A total of 875,587 shares of L3Harris Technologies Inc. were sold by T. Rowe Price Associates, Inc. during the quarter, and -50,362 were sold by Managed Account Advisors LLC. In its current portfolio, Wellington Management Co. LLP holds 5,304,934 shares valued at $1.1 billion.
In terms of L3Harris Technologies Inc. share price expectations, FactSet research, analysts set an average price target of $274.42 in the next 12 months, up nearly 15.57% from the previous closing price of $238.81. Analysts anticipate L3Harris Technologies Inc. stock to reach $333.00 by 2022, with the lowest price target being $192.00. In spite of this, 23 analysts ranked L3Harris Technologies Inc. stock as an Overweight at the end of 2022. On August 30, 2022, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and initiated coverage with a $285.