Thurston Springer Miller Herd & Titak Inc. Has $1.66 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 54.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,875 shares of the company’s stock after acquiring an additional 2,780 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in L3Harris Technologies were worth $1,656,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LHX. JPMorgan Chase & Co. grew its holdings in L3Harris Technologies by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock valued at $184,245,000 after purchasing an additional 178,407 shares during the period. The Manufacturers Life Insurance Company grew its holdings in L3Harris Technologies by 65.2% during the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock valued at $97,532,000 after purchasing an additional 171,420 shares during the period. International Assets Investment Management LLC grew its holdings in L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after purchasing an additional 169,878 shares during the period. Mizuho Markets Americas LLC grew its holdings in L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after purchasing an additional 166,262 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in L3Harris Technologies by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,405,337 shares of the company’s stock valued at $315,611,000 after purchasing an additional 156,453 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Price Performance

NYSE:LHX opened at $214.65 on Wednesday. L3Harris Technologies, Inc. has a one year low of $200.18 and a one year high of $265.74. The company has a market cap of $40.71 billion, a P/E ratio of 33.91, a P/E/G ratio of 1.86 and a beta of 0.75. The firm’s fifty day moving average price is $229.70 and its two-hundred day moving average price is $233.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the company earned $3.19 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts expect that L3Harris Technologies, Inc. will post 13.09 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In related news, insider Ross Niebergall sold 1,764 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $223.62, for a total value of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 7,889 shares of company stock worth $1,800,572 over the last ninety days. Insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LHX shares. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective for the company in a report on Thursday, October 10th. Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Sanford C. Bernstein raised shares of L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the company from $289.00 to $267.00 in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.25.

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.