Versant Capital Management Inc Has $99,000 Position in L3Harris Technologies, Inc. (NYSE:LHX)

Versant Capital Management Inc grew its position in L3Harris Technologies, Inc. (NYSE:LHX) by 133.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 472 shares of the company’s stock after purchasing an additional 270 shares during the period. Versant Capital Management Inc’s holdings in L3Harris Technologies were worth $99,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LHX. Meeder Asset Management Inc. raised its stake in L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock worth $27,000 after buying an additional 86 shares during the period. Archer Investment Corp increased its holdings in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Kennebec Savings Bank acquired a new stake in shares of L3Harris Technologies during the third quarter worth about $36,000. Ashton Thomas Private Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $57,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of L3Harris Technologies in the 3rd quarter valued at approximately $64,000. 84.76% of the stock is owned by institutional investors.

Insider Transactions at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 7,889 shares of company stock worth $1,800,572. 0.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LHX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a report on Thursday. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday. Wells Fargo & Company cut their price target on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Truist Financial increased their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $267.73.

L3Harris Technologies Price Performance

NYSE:LHX opened at $209.75 on Friday. The stock has a market capitalization of $39.78 billion, a PE ratio of 33.14, a P/E/G ratio of 1.86 and a beta of 0.72. L3Harris Technologies, Inc. has a 1-year low of $200.18 and a 1-year high of $265.74. The firm has a fifty day simple moving average of $235.18 and a 200 day simple moving average of $233.87. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the business earned $3.19 EPS. L3Harris Technologies’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts expect that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were given a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.21%. L3Harris Technologies’s payout ratio is 73.30%.

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.