SouthState Corp Has $10.92 Million Stake in L3Harris Technologies, Inc. (NYSE:LHX)

SouthState Corp grew its stake in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,825 shares of the company’s stock after buying an additional 561 shares during the period. SouthState Corp’s holdings in L3Harris Technologies were worth $10,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley lifted its stake in L3Harris Technologies by 1.9% during the third quarter. Morgan Stanley now owns 2,507,948 shares of the company’s stock worth $436,684,000 after purchasing an additional 47,691 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of L3Harris Technologies by 4.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,041,826 shares of the company’s stock valued at $430,049,000 after purchasing an additional 82,423 shares in the last quarter. Northern Trust Corp lifted its stake in L3Harris Technologies by 4.6% in the third quarter. Northern Trust Corp now owns 1,570,639 shares of the company’s stock worth $273,480,000 after purchasing an additional 68,545 shares during the last quarter. Invesco Ltd. raised its stake in L3Harris Technologies by 15.3% in the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock worth $254,187,000 after buying an additional 193,690 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of L3Harris Technologies by 22.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock valued at $252,481,000 after buying an additional 266,468 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Stock Down 0.2 %

LHX traded down $0.41 on Thursday, hitting $211.34. 946,173 shares of the company were exchanged, compared to its average volume of 1,125,840. L3Harris Technologies, Inc. has a twelve month low of $160.25 and a twelve month high of $218.34. The company has a market cap of $40.09 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63. The firm has a 50-day moving average price of $210.26 and a two-hundred day moving average price of $202.25. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 25th. The company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.17. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.86 EPS. On average, equities analysts predict that L3Harris Technologies, Inc. will post 12.87 earnings per share for the current year.

L3Harris Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Friday, May 31st. L3Harris Technologies’s payout ratio is currently 75.32%.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Scott T. Mikuen sold 1,292 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $211.14, for a total transaction of $272,792.88. Following the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The disclosure for this sale can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 in the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LHX. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays increased their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company cut their price target on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 30th. Raymond James increased their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and an average target price of $231.33.

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.