Thurston Springer Miller Herd & Titak Inc. Increases Stock Position in L3Harris Technologies Inc $LHX

Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 228.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,965 shares of the company’s stock after purchasing an additional 2,063 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in L3Harris Technologies were worth $871,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LHX. Caitlin John LLC purchased a new stake in L3Harris Technologies during the 3rd quarter worth about $28,000. JPL Wealth Management LLC purchased a new stake in shares of L3Harris Technologies during the third quarter worth about $29,000. Triumph Capital Management acquired a new position in shares of L3Harris Technologies in the third quarter valued at approximately $31,000. GGM Financials LLC acquired a new position in shares of L3Harris Technologies in the third quarter valued at approximately $32,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of L3Harris Technologies during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

LHX has been the subject of several recent analyst reports. Weiss Ratings raised shares of L3Harris Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Citigroup lifted their price objective on L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Royal Bank Of Canada upped their target price on L3Harris Technologies from $360.00 to $365.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research report on Thursday, January 15th. Finally, Morgan Stanley lifted their price target on L3Harris Technologies from $367.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $334.62.

L3Harris Technologies Trading Up 0.2%

Shares of LHX opened at $356.78 on Friday. L3Harris Technologies Inc has a twelve month low of $195.72 and a twelve month high of $379.23. The firm has a market capitalization of $66.64 billion, a P/E ratio of 41.83, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $354.30 and its 200 day simple moving average is $316.78.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.10. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.47 earnings per share. On average, equities research analysts forecast that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $1.25 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Friday, March 6th. This represents a $5.00 dividend on an annualized basis and a yield of 1.4%. L3Harris Technologies’s dividend payout ratio is currently 58.62%.

Insider Buying and Selling

In other news, insider Jon Rambeau sold 5,528 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. This represents a 41.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total transaction of $278,110.32. Following the transaction, the vice president owned 4,131 shares in the company, valued at $1,529,791.92. The trade was a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 19,025 shares of company stock valued at $6,824,370. 0.72% of the stock is currently owned by corporate insiders.

L3Harris Technologies Company Profile

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.