Clear Creek Financial Management LLC Reduces Stock Position in L3Harris Technologies Inc $LHX

Clear Creek Financial Management LLC decreased its position in shares of L3Harris Technologies Inc (NYSE:LHX) by 39.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 799 shares of the company’s stock after selling 529 shares during the quarter. Clear Creek Financial Management LLC’s holdings in L3Harris Technologies were worth $200,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC purchased a new position in shares of L3Harris Technologies during the first quarter worth about $26,000. Nova Wealth Management Inc. purchased a new position in shares of L3Harris Technologies during the first quarter worth about $26,000. Beacon Capital Management LLC grew its holdings in shares of L3Harris Technologies by 79.5% during the first quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of 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 purchasing an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in shares of L3Harris Technologies by 323.3% during the first quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after purchasing an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

Shares of LHX opened at $292.45 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. L3Harris Technologies Inc has a fifty-two week low of $193.09 and a fifty-two week high of $308.12. The firm has a 50-day simple moving average of $281.74 and a 200-day simple moving average of $253.22.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.24 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, equities research analysts anticipate that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a $1.20 dividend. The ex-dividend date was Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.63%.

Analysts Set New Price Targets

Several equities analysts have issued reports on LHX shares. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 22nd. Susquehanna raised their price objective on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, July 25th. Royal Bank Of Canada increased their target price on shares of L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Truist Financial increased their target price on shares of L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Robert W. Baird increased their target price on shares of L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $278.19.

Insider Buying and Selling

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the sale, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 195,138 shares of company stock valued at $53,571,774 in the last three months. 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.