Thurston Springer Miller Herd & Titak Inc. Raises Stock Holdings in L3Harris Technologies, Inc. (NYSE:LHX)

Thurston Springer Miller Herd & Titak Inc. grew its holdings in L3Harris Technologies, Inc. (NYSE:LHX - Free Report) by 26.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,981 shares of the company's stock after purchasing an additional 2,106 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.'s holdings in L3Harris Technologies were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of L3Harris Technologies during the 4th quarter worth approximately $398,507,000. Invesco Ltd. lifted its position in shares of L3Harris Technologies by 30.5% during the 4th quarter. Invesco Ltd. now owns 2,235,077 shares of the company's stock valued at $469,992,000 after acquiring an additional 522,861 shares during the period. GAMMA Investing LLC lifted its position in shares of L3Harris Technologies by 18,295.3% during the 1st quarter. GAMMA Investing LLC now owns 513,228 shares of the company's stock valued at $107,424,000 after acquiring an additional 510,438 shares during the period. Vanguard Group Inc. boosted its stake in L3Harris Technologies by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,281,023 shares of the company's stock worth $4,895,534,000 after acquiring an additional 401,168 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in L3Harris Technologies by 64.2% in the fourth quarter. Deutsche Bank AG now owns 740,400 shares of the company's stock worth $155,691,000 after purchasing an additional 289,514 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Stock Performance

L3Harris Technologies stock traded up $2.25 during mid-day trading on Friday, reaching $244.31. 795,669 shares of the company's stock were exchanged, compared to its average volume of 1,101,064. The firm has a market capitalization of $45.67 billion, a PE ratio of 31.04, a P/E/G ratio of 2.42 and a beta of 0.72. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business's fifty day simple moving average is $222.85 and its 200 day simple moving average is $218.31. L3Harris Technologies, Inc. has a one year low of $193.09 and a one year high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, topping analysts' consensus estimates of $2.32 by $0.09. The company had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.06 EPS. On average, sell-side analysts expect that L3Harris Technologies, Inc. will post 11.12 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $4.80 annualized dividend and a dividend yield of 1.96%. L3Harris Technologies's payout ratio is currently 56.94%.

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 2,000 shares of L3Harris Technologies stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the transaction, the insider now owns 25,325 shares in the company, valued at $6,204,625. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $226.00, for a total transaction of $718,228.00. Following the sale, the insider now owns 2,797 shares in the company, valued at $632,122. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LHX. UBS Group increased their price objective on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research report on Monday, April 28th. Citigroup cut their price target on L3Harris Technologies from $285.00 to $245.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Jefferies Financial Group reduced their price target on shares of L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wells Fargo & Company dropped their price objective on shares of L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Truist Financial lowered their target price on shares of L3Harris Technologies from $264.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $256.56.

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.