Thurston Springer Miller Herd & Titak Inc. Acquires 1,582 Shares of L3Harris Technologies Inc $LHX

Key Points

• Thurston Springer Miller Herd & Titak Inc. increased its stake in L3Harris Technologies by 15.9%, owning a total of 11,563 shares valued at approximately $2.9 million.
• Insider CEO Christopher E. Kubasik sold 83,000 shares for over $23 million, significantly decreasing his position by 36.31%.
• L3Harris Technologies announced a quarterly dividend of $1.20 per share, representing an annual yield of 1.7% and a payout ratio of 53.63%.

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,563 shares of the company's stock after purchasing an additional 1,582 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in L3Harris Technologies were worth $2,900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LHX. Clearstead Trust LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at approximately $26,000. Nova Wealth Management Inc. bought a new stake in L3Harris Technologies during the 1st quarter valued at approximately $26,000. Beacon Capital Management LLC raised its stake in L3Harris Technologies by 79.5% during the 1st quarter. Beacon Capital Management LLC now owns 131 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the period. Park Square Financial Group LLC bought a new stake in L3Harris Technologies during the 4th quarter valued at approximately $37,000. Finally, Cornerstone Planning Group LLC raised its stake in L3Harris Technologies by 323.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 182 shares of the company's stock valued at $39,000 after purchasing an additional 139 shares during the period. Institutional investors own 84.76% of the company's stock.

Insider Transactions at L3Harris Technologies

In related news, CEO Christopher E. Kubasik sold 83,000 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer owned 145,578 shares in the company, valued at $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 195,138 shares of company stock worth $53,571,774. 0.72% of the stock is owned by insiders.

L3Harris Technologies Price Performance

Shares of L3Harris Technologies stock opened at $279.22 on Friday. The stock has a market cap of $52.24 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.87 and a current ratio of 1.04. The stock has a 50 day moving average price of $271.08 and a 200-day moving average price of $241.66. L3Harris Technologies Inc has a one year low of $193.09 and a one year high of $281.67.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $2.48 by $0.30. The firm had revenue of $5.43 billion during the quarter, compared to analysts' expectations of $5.31 billion. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.24 EPS. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. Equities analysts expect that L3Harris Technologies Inc will post 11.12 EPS for the current year.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $1.20 dividend. The ex-dividend date is Friday, September 5th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. L3Harris Technologies's payout ratio is 53.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LHX. Truist Financial lifted their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Robert W. Baird lifted their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of L3Harris Technologies in a research note on Monday, July 14th. Barclays lifted their price objective on L3Harris Technologies from $255.00 to $305.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $279.47.

L3Harris Technologies 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.

Want to see what other hedge funds are holding LHX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L3Harris Technologies Inc (NYSE:LHX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.