Creative Financial Designs Inc. ADV Sells 1,376 Shares of L3Harris Technologies Inc $LHX

Creative Financial Designs Inc. ADV lessened its position in L3Harris Technologies Inc (NYSE:LHX) by 33.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,727 shares of the company’s stock after selling 1,376 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in L3Harris Technologies were worth $833,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of L3Harris Technologies by 233.9% in the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares during the period. Atria Investments Inc lifted its holdings in shares of L3Harris Technologies by 7.8% in the 2nd quarter. Atria Investments Inc now owns 9,512 shares of the company’s stock worth $2,386,000 after buying an additional 685 shares during the period. Simon Quick Advisors LLC grew its position in shares of L3Harris Technologies by 17.7% during the 2nd quarter. Simon Quick Advisors LLC now owns 1,795 shares of the company’s stock worth $450,000 after buying an additional 270 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of L3Harris Technologies by 2.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 32,604 shares of the company’s stock worth $8,178,000 after buying an additional 798 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of L3Harris Technologies in the second quarter valued at about $219,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

L3Harris Technologies Stock Performance

LHX opened at $364.50 on Monday. L3Harris Technologies Inc has a 52-week low of $195.72 and a 52-week high of $369.59. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53. The company has a market cap of $68.08 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.63. The firm’s 50-day moving average price is $335.43 and its 200-day moving average price is $302.66.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. L3Harris Technologies’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business earned $3.47 EPS. As a group, equities analysts anticipate that L3Harris Technologies Inc will post 11.12 EPS for the current fiscal year.

L3Harris Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Friday, March 6th. L3Harris Technologies’s dividend payout ratio is presently 56.27%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LHX shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, February 6th. Truist Financial set a $364.00 price target on shares of L3Harris Technologies in a research report on Wednesday, January 14th. Royal Bank Of Canada lifted their price objective on shares of L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Weiss Ratings upgraded L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a report on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

Insider Activity

In related news, insider Samir Mehta sold 4,840 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $338.85, for a total value of $1,640,034.00. Following the transaction, the insider directly owned 5,916 shares of the company’s stock, valued at $2,004,636.60. This represents a 45.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.