Thurston Springer Miller Herd & Titak Inc. Boosts Stake in L3Harris Technologies Inc $LHX

Thurston Springer Miller Herd & Titak Inc. raised its position in L3Harris Technologies Inc (NYSE:LHX) by 228.7% in the fourth quarter, HoldingsChannel.com reports. 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.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in shares of L3Harris Technologies by 1.2% in the second quarter. State Street Corp now owns 8,874,482 shares of the company’s stock worth $2,226,075,000 after acquiring an additional 105,402 shares in the last quarter. Bank of America Corp DE grew its stake in L3Harris Technologies by 3.1% during the 2nd quarter. Bank of America Corp DE now owns 1,728,519 shares of the company’s stock valued at $433,582,000 after purchasing an additional 52,776 shares in the last quarter. Capital Research Global Investors increased its holdings in L3Harris Technologies by 23.3% during the 3rd quarter. Capital Research Global Investors now owns 1,657,085 shares of the company’s stock worth $506,090,000 after purchasing an additional 312,846 shares during the last quarter. AGF Management Ltd. raised its position in shares of L3Harris Technologies by 15.9% in the 3rd quarter. AGF Management Ltd. now owns 1,500,887 shares of the company’s stock valued at $458,386,000 after purchasing an additional 205,479 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of L3Harris Technologies by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,440,599 shares of the company’s stock valued at $439,920,000 after purchasing an additional 35,951 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Technologies Stock Performance

Shares of LHX opened at $356.78 on Friday. The stock has a market capitalization of $66.64 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 2.57 and a beta of 0.62. The business’s fifty day moving average price is $354.30 and its 200 day moving average price is $316.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. L3Harris Technologies Inc has a 12-month low of $195.72 and a 12-month high of $379.23.

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

L3Harris Technologies Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 6th. 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. L3Harris Technologies’s payout ratio is currently 58.62%.

Wall Street Analyst Weigh In

LHX has been the subject of a number of recent analyst reports. Argus raised shares of L3Harris Technologies to a “strong-buy” rating in a research report on Friday, February 27th. Vertical Research reiterated a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Wolfe Research reissued an “outperform” rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Wall Street Zen lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, TD Cowen reaffirmed a “buy” rating on shares of L3Harris Technologies in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $334.62.

Insider Buying and Selling

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

L3Harris Technologies 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.