Versor Investments LP Has $502,000 Stock Position in L3Harris Technologies Inc $LHX

Versor Investments LP lowered its position in L3Harris Technologies Inc (NYSE:LHX) by 68.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the company’s stock after selling 4,300 shares during the quarter. Versor Investments LP’s holdings in L3Harris Technologies were worth $502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LHX. Kiker Wealth Management LLC raised its holdings in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after purchasing an additional 63 shares in the last quarter. Clearstead Trust LLC bought a new position in shares of L3Harris Technologies in the first quarter worth about $26,000. Nova Wealth Management Inc. bought a new position in L3Harris Technologies in the 1st quarter worth approximately $26,000. Harbor Asset Planning Inc. bought a new position in L3Harris Technologies in the 2nd quarter worth approximately $32,000. Finally, Independence Bank of Kentucky increased its position in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after buying an additional 40 shares during the period. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Up 0.8%

LHX stock opened at $290.77 on Wednesday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The firm has a market cap of $54.40 billion, a P/E ratio of 32.49, a P/E/G ratio of 2.09 and a beta of 0.76. The business’s 50 day moving average is $287.43 and its 200-day moving average is $262.92. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.10. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company posted $3.34 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. Equities analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. L3Harris Technologies’s dividend payout ratio is presently 51.56%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LHX shares. Robert W. Baird boosted their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of L3Harris Technologies from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday. Citigroup boosted their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Barclays boosted their price target on L3Harris Technologies from $255.00 to $305.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Finally, Susquehanna restated a “positive” rating on shares of L3Harris Technologies in a research report on Friday. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $295.63.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the sale, the chief executive officer owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. This represents a 36.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

L3Harris Technologies Company 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.