Colrain Capital LLC Trims Holdings in L3Harris Technologies Inc $LHX

Colrain Capital LLC decreased its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 9.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,000 shares of the company’s stock after selling 1,500 shares during the quarter. L3Harris Technologies comprises 2.7% of Colrain Capital LLC’s holdings, making the stock its 17th largest position. Colrain Capital LLC’s holdings in L3Harris Technologies were worth $3,512,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Kiker Wealth Management LLC lifted its position in L3Harris Technologies by 137.0% during the second quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock worth $27,000 after buying an additional 63 shares in the last quarter. Clearstead Trust LLC acquired a new stake in L3Harris Technologies during the first quarter worth $26,000. Nova Wealth Management Inc. acquired a new stake in L3Harris Technologies during the first quarter worth $26,000. Harbor Asset Planning Inc. acquired a new stake in L3Harris Technologies during the second quarter worth $32,000. Finally, Independence Bank of Kentucky increased its stake in L3Harris Technologies by 44.4% during the second quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock worth $33,000 after acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on LHX. Morgan Stanley raised their target price on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Truist Financial raised their target price on L3Harris Technologies from $302.00 to $353.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Robert W. Baird raised their target price on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Citigroup raised their target price on L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $290.31.

L3Harris Technologies Trading Down 2.3%

Shares of NYSE LHX opened at $289.07 on Friday. L3Harris Technologies Inc has a twelve month low of $193.09 and a twelve month high of $308.12. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $286.92 and a 200-day simple moving average of $261.61. The stock has a market capitalization of $54.08 billion, a PE ratio of 32.30, a PEG ratio of 2.09 and a beta of 0.76.

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

L3Harris Technologies Announces Dividend

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

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.