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

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX) by 15.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,563 shares of the company’s stock after acquiring an additional 1,582 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in L3Harris Technologies were worth $2,900,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter worth $26,000. Nova Wealth Management Inc. purchased a new stake in shares of L3Harris Technologies in the 1st quarter worth $26,000. Beacon Capital Management LLC lifted its holdings in shares of L3Harris Technologies by 79.5% in the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company’s stock worth $27,000 after buying an additional 58 shares during the period. Park Square Financial Group LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth $37,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of L3Harris Technologies by 323.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company’s stock worth $39,000 after buying an additional 139 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Trading Down 0.5%

Shares of NYSE:LHX opened at $279.22 on Friday. The business’s 50-day moving average is $271.08 and its 200 day moving average is $241.66. L3Harris Technologies Inc has a 1 year low of $193.09 and a 1 year high of $281.67. The firm has a market capitalization of $52.24 billion, a P/E ratio of 31.20, a P/E/G ratio of 2.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, July 24th. The company reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.31 billion. During the same period in the prior year, the company posted $3.24 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current fiscal year.

L3Harris Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies’s dividend payout ratio is currently 53.63%.

Analyst Ratings Changes

LHX has been the subject of several research reports. Royal Bank Of Canada upped their target price on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Truist Financial boosted their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Susquehanna boosted their price target on L3Harris Technologies from $300.00 to $320.00 and gave the stock a “positive” rating in a research report on Friday, July 25th. Robert W. Baird boosted their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Finally, UBS Group boosted their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.47.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the transaction, the chief executive officer directly owned 145,578 shares of the company’s stock, valued at $40,747,282.20. This represents a 36.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 195,138 shares of company stock worth $53,571,774. Corporate insiders own 0.72% of the company’s stock.

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.