Versant Capital Management Inc Buys 270 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

Versant Capital Management Inc lifted its stake in L3Harris Technologies, Inc. (NYSE:LHX) by 133.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 472 shares of the company’s stock after buying 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 institutional investors have also added to or reduced their stakes in LHX. Foundations Investment Advisors LLC increased its position in shares of L3Harris Technologies by 2.8% during the second quarter. Foundations Investment Advisors LLC now owns 2,654 shares of the company’s stock valued at $596,000 after purchasing an additional 72 shares during the period. Larson Financial Group LLC increased its holdings in L3Harris Technologies by 154.4% in the 2nd quarter. Larson Financial Group LLC now owns 575 shares of the company’s stock valued at $129,000 after buying an additional 349 shares during the period. TD Asset Management Inc lifted its holdings in shares of L3Harris Technologies by 1.8% during the 2nd quarter. TD Asset Management Inc now owns 88,357 shares of the company’s stock worth $19,843,000 after acquiring an additional 1,527 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of L3Harris Technologies by 15.4% during the 2nd quarter. Victory Capital Management Inc. now owns 125,298 shares of the company’s stock worth $28,139,000 after acquiring an additional 16,736 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of L3Harris Technologies by 1.3% during the 2nd quarter. Arizona State Retirement System now owns 55,108 shares of the company’s stock valued at $12,376,000 after acquiring an additional 715 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America upgraded shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their target price on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a research report on Thursday. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada lifted their price objective on L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Truist Financial upped their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.73.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock opened at $209.75 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $235.18 and a 200 day simple moving average of $233.87. L3Harris Technologies, Inc. has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The firm has a market cap of $39.78 billion, a P/E ratio of 33.14, a P/E/G ratio of 1.86 and a beta of 0.72.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the firm earned $3.19 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts predict that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

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

Insider Activity

In other news, insider Ross Niebergall sold 1,373 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the transaction, the insider now owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.82% of the stock is currently owned by insiders.

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.