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L3Harris Technologies shares dip ending three-day rally

EditorPollock Mondal
Published 11/16/2023, 03:51 AM
Updated 11/16/2023, 03:51 AM
© Reuters.

NEW YORK - L3Harris Technologies (NYSE:LHX), a prominent aerospace and defense contractor, saw its shares decline slightly on Wednesday, interrupting a three-day streak of gains. The company's stock edged down 0.09% to close at $187.44, contrasting with the broader market uptrend where the S&P 500 Index and the Dow Jones Industrial Average increased by 0.16% and 0.47%, respectively.

This downturn comes despite the stock reaching its annual high of $230.73 on December 2nd. In comparison to its industry peers on Wednesday, L3Harris did not fare as well; competitors such as RTX Corp, Boeing (NYSE:BA) Co., and Lockheed Martin Corp (NYSE:LMT). experienced mixed results with RTX Corp dropping by 0.07%, while Boeing Co . and Lockheed Martin Corp. rose by 0.60% and 0.21% respectively.

Additionally, trading volumes for L3Harris were lower than average, with only 1.2 million shares changing hands, which is below its 50-day average volume by 142,380 shares. The company's recent performance in the stock market has drawn attention from investors looking to gauge the health of the defense sector amid varying market conditions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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