Versor Investments LP Decreases Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

Versor Investments LP cut its position in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 29.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,795 shares of the company's stock after selling 3,592 shares during the quarter. Versor Investments LP's holdings in L3Harris Technologies were worth $1,849,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. OneDigital Investment Advisors LLC boosted its stake in L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company's stock valued at $1,883,000 after purchasing an additional 40 shares during the period. Nicholas Hoffman & Company LLC. boosted its stake in L3Harris Technologies by 3.3% in the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company's stock valued at $322,000 after purchasing an additional 43 shares during the period. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% in the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock valued at $31,000 after purchasing an additional 43 shares during the period. HMS Capital Management LLC raised its holdings in L3Harris Technologies by 1.0% in the 3rd quarter. HMS Capital Management LLC now owns 4,850 shares of the company's stock valued at $1,154,000 after acquiring an additional 47 shares in the last quarter. Finally, Sigma Planning Corp raised its holdings in L3Harris Technologies by 1.9% in the 3rd quarter. Sigma Planning Corp now owns 2,613 shares of the company's stock valued at $622,000 after acquiring an additional 49 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LHX has been the subject of several analyst reports. Morgan Stanley dropped their price objective on L3Harris Technologies from $260.00 to $250.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Raymond James cut L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Barclays lowered their target price on L3Harris Technologies from $290.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lowered their target price on L3Harris Technologies from $250.00 to $229.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. Finally, Argus raised L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 target price for the company in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $261.47.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,373 shares of L3Harris Technologies stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the completion of the sale, the insider now owns 5,049 shares of the company's stock, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,901 shares of company stock valued at $1,059,757 over the last three months. Company insiders own 0.82% of the company's stock.

L3Harris Technologies Stock Performance

NYSE LHX traded up $1.33 on Friday, hitting $206.23. 1,245,205 shares of the stock traded hands, compared to its average volume of 1,351,318. The business's fifty day moving average is $209.05 and its two-hundred day moving average is $228.22. L3Harris Technologies, Inc. has a 12 month low of $193.09 and a 12 month high of $265.74. The firm has a market capitalization of $38.84 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Profile

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.