Thurston Springer Miller Herd & Titak Inc. Increases Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 13.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,095 shares of the company’s stock after buying an additional 591 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in L3Harris Technologies were worth $1,212,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in shares of L3Harris Technologies by 260.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after buying an additional 86 shares during the period. Transcendent Capital Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter valued at $28,000. EntryPoint Capital LLC increased its holdings in shares of L3Harris Technologies by 70.4% in the first quarter. EntryPoint Capital LLC now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares during the period. Versant Capital Management Inc boosted its holdings in L3Harris Technologies by 77.7% in the 2nd quarter. Versant Capital Management Inc now owns 183 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in shares of L3Harris Technologies in the second quarter valued at about $45,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LHX has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Barclays raised their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, L3Harris Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $253.64.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX opened at $247.98 on Monday. The stock has a market capitalization of $47.04 billion, a price-to-earnings ratio of 39.94, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73. L3Harris Technologies, Inc. has a fifty-two week low of $169.55 and a fifty-two week high of $247.98. The business’s fifty day moving average price is $233.12 and its two-hundred day moving average price is $224.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.97 earnings per share. As a group, analysts predict that L3Harris Technologies, Inc. will post 13.06 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, September 6th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Insiders Place Their Bets

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.

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.