L3Harris Technologies, Inc. (NYSE:LHX) Shares Sold by Versor Investments LP

Versor Investments LP cut its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 29.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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 SEC filing.

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

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $202.28 on Thursday. The firm has a market cap of $38.09 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. L3Harris Technologies, Inc. has a 1 year low of $193.09 and a 1 year high of $265.74. The firm’s 50-day simple moving average is $209.31 and its 200-day simple moving average is $228.53. 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) last released its earnings results on Thursday, January 30th. The company reported $3.47 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 analysts forecast that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the sale, the insider now directly owns 6,812 shares of the company’s stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,901 shares of company stock worth $1,059,757 over the last ninety days. 0.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LHX has been the subject of several research reports. Bank of America decreased their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada restated a “sector perform” rating and set a $240.00 price objective on shares of L3Harris Technologies in a research note on Friday, January 31st. UBS Group increased their target price on L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on L3Harris Technologies from $265.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial decreased their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.47.

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.