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

Colrain Capital LLC bought a new stake in L3Harris Technologies, Inc. (NYSE:LHX) during the 4th quarter, Holdings Channel reports. The firm bought 13,150 shares of the company’s stock, valued at approximately $2,765,000. L3Harris Technologies accounts for about 2.7% of Colrain Capital LLC’s portfolio, making the stock its 16th largest holding.

Several other hedge funds have also made changes to their positions in LHX. Measured Wealth Private Client Group LLC grew its position in L3Harris Technologies by 5.5% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 953 shares of the company’s stock worth $200,000 after acquiring an additional 50 shares during the period. Premier Path Wealth Partners LLC lifted its stake in shares of L3Harris Technologies by 3.4% in the 4th quarter. Premier Path Wealth Partners LLC now owns 1,561 shares of the company’s stock valued at $328,000 after purchasing an additional 51 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in shares of L3Harris Technologies by 2.2% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,447 shares of the company’s stock worth $514,000 after purchasing an additional 53 shares during the period. Klingman & Associates LLC increased its position in shares of L3Harris Technologies by 2.8% during the 4th quarter. Klingman & Associates LLC now owns 1,933 shares of the company’s stock worth $406,000 after purchasing an additional 53 shares during the last quarter. Finally, Zullo Investment Group Inc. raised its holdings in L3Harris Technologies by 3.2% in the 4th quarter. Zullo Investment Group Inc. now owns 1,717 shares of the company’s stock valued at $361,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Trading Down 2.5 %

NYSE LHX opened at $207.46 on Monday. L3Harris Technologies, Inc. has a 52 week low of $193.09 and a 52 week high of $265.74. The firm has a 50 day moving average of $209.34 and a two-hundred day moving average of $225.51. The stock has a market capitalization of $38.94 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 2.42 and a beta of 0.74. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

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

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a dividend of $1.20 per share. 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 dividend payout ratio (DPR) is 60.99%.

Insider Buying and Selling

In related news, insider Edward J. Zoiss sold 1,783 shares of L3Harris Technologies stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now directly owns 30,620 shares in the company, valued at $6,475,517.60. This trade represents a 5.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the completion of the sale, the insider now directly owns 2,797 shares of the company’s stock, valued at approximately $632,122. This trade represents a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LHX shares. Sanford C. Bernstein upgraded shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $289.00 to $267.00 in a research report on Wednesday, January 8th. Barclays dropped their target price 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. UBS Group upped their price target on L3Harris Technologies from $228.00 to $237.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Citigroup dropped their price objective on L3Harris Technologies from $291.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Truist Financial decreased their target price on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $261.40.

L3Harris Technologies 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.