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

Clear Creek Financial Management LLC bought a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,328 shares of the company's stock, valued at approximately $278,000.

A number of other institutional investors have also made changes to their positions in the business. Koshinski Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 3.1% in the first quarter. Koshinski Asset Management Inc. now owns 1,688 shares of the company's stock valued at $353,000 after buying an additional 50 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in shares of L3Harris Technologies by 0.7% in the fourth quarter. Belpointe Asset Management LLC now owns 7,017 shares of the company's stock valued at $1,476,000 after buying an additional 52 shares during the last quarter. CWC Advisors LLC. raised its holdings in shares of L3Harris Technologies by 2.1% in the fourth quarter. CWC Advisors LLC. now owns 2,596 shares of the company's stock valued at $546,000 after buying an additional 53 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of L3Harris Technologies by 0.6% in the fourth quarter. Citizens Financial Group Inc. RI now owns 8,908 shares of the company's stock valued at $1,873,000 after buying an additional 54 shares during the last quarter. Finally, Riverwater Partners LLC raised its holdings in shares of L3Harris Technologies by 3.1% in the first quarter. Riverwater Partners LLC now owns 1,773 shares of the company's stock valued at $371,000 after buying an additional 54 shares during the last quarter. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 33,061 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $248.48, for a total transaction of $8,214,997.28. Following the completion of the sale, the chief executive officer owned 145,572 shares in the company, valued at approximately $36,171,730.56. This represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Edward J. Zoiss sold 2,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the transaction, the insider directly owned 25,325 shares in the company, valued at $6,204,625. This represents a 7.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LHX. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $226.00 and gave the company a "neutral" rating in a report on Monday, April 28th. Truist Financial dropped their price objective on L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group raised L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their price objective for the stock from $198.00 to $263.00 in a report on Friday, April 11th. Wells Fargo & Company dropped their price objective on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Finally, Citigroup boosted their price objective on L3Harris Technologies from $245.00 to $280.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $258.75.

L3Harris Technologies Trading Up 1.3%

LHX stock traded up $3.21 during mid-day trading on Friday, reaching $256.77. The company's stock had a trading volume of 575,399 shares, compared to its average volume of 1,151,636. The company has a market cap of $48.00 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.04 and a beta of 0.75. The business's 50 day moving average price is $238.25 and its 200 day moving average price is $220.21. The company has a current ratio of 1.02, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. L3Harris Technologies Inc has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. L3Harris Technologies had a return on equity of 12.38% and a net margin of 7.55%. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. During the same quarter last year, the firm posted $3.06 earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts predict that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $4.80 annualized dividend and a yield of 1.87%. L3Harris Technologies's dividend payout ratio (DPR) is currently 56.94%.

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.