Colrain Capital LLC Has $6.05 Million Holdings in L3Harris Technologies Inc $LHX

Colrain Capital LLC increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 41.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,800 shares of the company’s stock after purchasing an additional 5,800 shares during the quarter. L3Harris Technologies makes up 3.4% of Colrain Capital LLC’s investment portfolio, making the stock its 14th biggest holding. Colrain Capital LLC’s holdings in L3Harris Technologies were worth $6,047,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of L3Harris Technologies by 0.5% in the second quarter. Vanguard Group Inc. now owns 23,170,042 shares of the company’s stock valued at $5,811,973,000 after buying an additional 121,619 shares during the period. State Street Corp boosted its holdings in L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock valued at $2,226,075,000 after acquiring an additional 105,402 shares during the last quarter. Geode Capital Management LLC increased its position in L3Harris Technologies by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,948,981 shares of the company’s stock valued at $1,236,410,000 after purchasing an additional 38,820 shares during the period. Bank of New York Mellon Corp increased its position in L3Harris Technologies by 52.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,117,030 shares of the company’s stock valued at $1,032,716,000 after purchasing an additional 1,413,833 shares during the period. Finally, Boston Partners raised its holdings in L3Harris Technologies by 72.1% during the 2nd quarter. Boston Partners now owns 2,002,211 shares of the company’s stock worth $504,160,000 after purchasing an additional 838,546 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LHX has been the topic of a number of analyst reports. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Wolfe Research restated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. BNP Paribas Exane raised L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $328.57.

L3Harris Technologies Stock Performance

Shares of LHX opened at $345.07 on Tuesday. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $369.59. The company has a market cap of $64.45 billion, a PE ratio of 40.45, a P/E/G ratio of 2.49 and a beta of 0.64. The stock has a 50-day moving average of $322.96 and a 200-day moving average of $297.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.76 billion. During the same quarter in the prior year, the company earned $3.47 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date is Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 56.27%.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Samir Mehta sold 4,840 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at approximately $2,004,636.60. This trade represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

L3Harris Technologies Profile

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.