L3Harris Technologies Inc $LHX Shares Sold by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC trimmed its stake in shares of L3Harris Technologies Inc (NYSE:LHX) by 39.8% in the second quarter, Holdings Channel.com reports. The fund owned 799 shares of the company’s stock after selling 529 shares during the period. Clear Creek Financial Management LLC’s holdings in L3Harris Technologies were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LHX. Clearstead Trust LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. acquired a new stake in shares of L3Harris Technologies during the 1st quarter valued at approximately $26,000. Beacon Capital Management LLC lifted its position in shares of L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Independence Bank of Kentucky lifted its position in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after acquiring an additional 40 shares during the period. Finally, Cornerstone Planning Group LLC lifted its position in shares of L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock valued at $39,000 after acquiring an additional 139 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on 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 directly owned 145,578 shares of the company’s stock, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 195,138 shares of company stock valued at $53,571,774. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Sanford C. Bernstein reissued an “outperform” rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Susquehanna raised their price objective on shares of L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Finally, Citigroup raised their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $278.19.

L3Harris Technologies Stock Down 1.9%

LHX stock opened at $292.45 on Monday. The stock has a market capitalization of $54.72 billion, a P/E ratio of 32.68, a PEG ratio of 2.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $308.12. The company has a 50 day moving average price of $281.74 and a two-hundred day moving average price of $253.22.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.31 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

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.