13,150 Shares in L3Harris Technologies, Inc. (NYSE:LHX) Acquired by Colrain Capital LLC

Colrain Capital LLC bought a new position in L3Harris Technologies, Inc. (NYSE:LHX) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 13,150 shares of the company’s stock, valued at approximately $2,765,000. L3Harris Technologies accounts for 2.7% of Colrain Capital LLC’s holdings, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in L3Harris Technologies by 16.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,555 shares of the company’s stock valued at $370,000 after purchasing an additional 220 shares during the period. Townsquare Capital LLC raised its stake in L3Harris Technologies by 18.5% in the third quarter. Townsquare Capital LLC now owns 3,502 shares of the company’s stock worth $833,000 after buying an additional 547 shares in the last quarter. Glenmede Trust Co. NA raised its stake in L3Harris Technologies by 1.5% in the third quarter. Glenmede Trust Co. NA now owns 21,680 shares of the company’s stock worth $5,157,000 after buying an additional 314 shares in the last quarter. CreativeOne Wealth LLC boosted its position in L3Harris Technologies by 27.6% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,523 shares of the company’s stock valued at $838,000 after acquiring an additional 762 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of L3Harris Technologies by 1.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,003 shares of the company’s stock valued at $13,559,000 after acquiring an additional 565 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LHX shares. UBS Group boosted their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Citigroup decreased their price objective on shares of L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Barclays decreased their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five equities 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, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

L3Harris Technologies Stock Down 2.5 %

Shares of LHX stock opened at $207.46 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 0.57. L3Harris Technologies, Inc. has a twelve month low of $193.09 and a twelve month high of $265.74. The stock has a 50 day moving average of $209.34 and a 200 day moving average of $225.51. The stock has a market cap of $38.94 billion, a P/E ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.74.

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

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Monday, March 10th. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.16. L3Harris Technologies’s payout ratio is currently 60.99%.

Insider Activity at L3Harris Technologies

In other news, insider Edward J. Zoiss sold 1,783 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total value of $377,068.84. Following the completion of the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. The trade was a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the transaction, the insider now owns 2,797 shares in the company, valued at $632,122. This trade represents a 53.19 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company 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.