Clear Creek Financial Management LLC Makes New Investment in L3Harris Technologies Inc (NYSE:LHX)

Clear Creek Financial Management LLC bought a new position in L3Harris Technologies Inc (NYSE:LHX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,328 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of L3Harris Technologies by 233.9% during the 4th quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after acquiring an additional 3,001 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of L3Harris Technologies by 14.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,317 shares of the company’s stock worth $275,000 after acquiring an additional 162 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of L3Harris Technologies by 158.9% in the fourth quarter. Jones Financial Companies Lllp now owns 3,715 shares of the company’s stock worth $781,000 after acquiring an additional 2,280 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of L3Harris Technologies during the fourth quarter worth approximately $132,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of L3Harris Technologies by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,210,107 shares of the company’s stock worth $254,461,000 after buying an additional 32,979 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $256.77 on Friday. The firm has a market cap of $48.00 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 2.02 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. L3Harris Technologies Inc has a 52 week low of $193.09 and a 52 week high of $265.74. The firm’s 50-day simple moving average is $237.44 and its 200 day simple moving average is $219.90.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. The firm had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. As a group, sell-side analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.20 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies’s payout ratio is currently 56.94%.

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 33,061 shares of the company’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the completion of the transaction, the chief executive officer owned 145,572 shares of the company’s stock, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the sale, the insider owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

LHX has been the subject of several recent analyst reports. Jefferies Financial Group lowered their target price on shares of L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Truist Financial reduced their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a “buy” rating for the company in a report on Friday, April 25th. UBS Group increased their target price on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a “neutral” rating in a report on Monday, April 28th. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and upped their price target for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Citigroup upped their price target on shares of L3Harris Technologies from $245.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.75.

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.