L3Harris Technologies, Inc. (NYSE:LHX) Stake Lowered by Versor Investments LP

Versor Investments LP decreased its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 29.0% during the 4th quarter, HoldingsChannel reports. The firm owned 8,795 shares of the company’s stock after selling 3,592 shares during the period. Versor Investments LP’s holdings in L3Harris Technologies were worth $1,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in L3Harris Technologies by 1.3% in the third quarter. Geode Capital Management LLC now owns 4,734,832 shares of the company’s stock worth $1,122,630,000 after buying an additional 59,008 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of L3Harris Technologies by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,542,333 shares of the company’s stock worth $366,875,000 after acquiring an additional 85,882 shares during the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of L3Harris Technologies by 25.3% in the 3rd quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock worth $195,704,000 after acquiring an additional 166,262 shares during the period. JPMorgan Chase & Co. lifted its position in L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the last quarter. Finally, National Pension Service boosted its stake in L3Harris Technologies by 42.1% during the 4th quarter. National Pension Service now owns 606,047 shares of the company’s stock valued at $127,440,000 after purchasing an additional 179,539 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.8 %

LHX stock opened at $202.28 on Thursday. The firm has a market cap of $38.09 billion, a PE ratio of 25.70, a P/E/G ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a 50 day simple moving average of $209.31 and a 200 day simple moving average of $228.53.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Equities research analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LHX shares. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research note on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company decreased their target price on shares of L3Harris Technologies from $300.00 to $269.00 and set an “overweight” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $261.47.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of L3Harris Technologies stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now owns 8,576 shares in the company, valued at approximately $1,917,765.12. The trade was a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 4,901 shares of company stock valued at $1,059,757 over the last ninety days. Corporate insiders own 0.87% of the company’s stock.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.