SouthState Corp Acquires 561 Shares of L3Harris Technologies, Inc. (NYSE:LHX)

SouthState Corp increased its holdings in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,825 shares of the company’s stock after acquiring an additional 561 shares during the period. SouthState Corp’s holdings in L3Harris Technologies were worth $10,915,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Mondrian Investment Partners LTD grew its stake in shares of L3Harris Technologies by 32,907.5% during the third quarter. Mondrian Investment Partners LTD now owns 380,246 shares of the company’s stock worth $66,208,000 after buying an additional 379,094 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in L3Harris Technologies by 53.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 853,238 shares of the company’s stock worth $179,709,000 after buying an additional 296,654 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of L3Harris Technologies by 22.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,450,040 shares of the company’s stock worth $252,481,000 after purchasing an additional 266,468 shares during the period. Mizuho Markets Americas LLC purchased a new position in L3Harris Technologies in the third quarter worth $35,207,000. Finally, Invesco Ltd. boosted its position in L3Harris Technologies by 15.3% during the third quarter. Invesco Ltd. now owns 1,459,837 shares of the company’s stock valued at $254,187,000 after buying an additional 193,690 shares during the period. 84.76% of the stock is currently owned by institutional investors.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $0.41 on Thursday, reaching $211.34. 946,173 shares of the company’s stock were exchanged, compared to its average volume of 1,125,840. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $218.34. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average is $210.26 and its two-hundred day moving average is $202.25. The firm has a market capitalization of $40.09 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 1.97 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 25th. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the business posted $2.86 EPS. L3Harris Technologies’s revenue was up 16.6% on a year-over-year basis. As a group, equities research analysts forecast that L3Harris Technologies, Inc. will post 12.87 EPS for the current year.

L3Harris Technologies Dividend Announcement

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

Insider Activity

In other news, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now directly owns 1,543 shares of the company’s stock, valued at approximately $332,285.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $8,488,800.00. Following the completion of the sale, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 in the last quarter. 0.82% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LHX has been the topic of several analyst reports. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Barclays upped 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. JPMorgan Chase & Co. increased their price objective on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup lifted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Raymond James raised their target price on L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $231.33.

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.