SouthState Corp Grows Position in L3Harris Technologies, Inc. (NYSE:LHX)

SouthState Corp raised its holdings in L3Harris Technologies, Inc. (NYSE:LHX) by 1.5% in the second quarter, Holdings Channel.com reports. The fund owned 55,969 shares of the company’s stock after buying an additional 824 shares during the quarter. SouthState Corp’s holdings in L3Harris Technologies were worth $12,570,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. RFG Advisory LLC increased its stake in L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock valued at $318,000 after purchasing an additional 43 shares in the last quarter. Optas LLC grew its holdings in L3Harris Technologies by 3.3% in the second quarter. Optas LLC now owns 1,381 shares of the company’s stock valued at $310,000 after purchasing an additional 44 shares during the last quarter. Founders Financial Securities LLC increased its position in shares of L3Harris Technologies by 2.8% in the second quarter. Founders Financial Securities LLC now owns 1,774 shares of the company’s stock valued at $398,000 after buying an additional 48 shares in the last quarter. Whitener Capital Management Inc. boosted its position in shares of L3Harris Technologies by 3.0% in the 2nd quarter. Whitener Capital Management Inc. now owns 1,715 shares of the company’s stock worth $385,000 after buying an additional 50 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in L3Harris Technologies by 12.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 488 shares of the company’s stock valued at $103,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Scott T. Mikuen sold 15,887 shares of L3Harris Technologies stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $235.00, for a total value of $3,733,445.00. Following the transaction, the senior vice president now directly owns 47,616 shares of the company’s stock, valued at approximately $11,189,760. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Scott T. Mikuen sold 15,887 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $235.00, for a total value of $3,733,445.00. Following the completion of the sale, the senior vice president now owns 47,616 shares of the company’s stock, valued at $11,189,760. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sean J. Stackley sold 3,354 shares of L3Harris Technologies stock in a transaction on Monday, June 17th. The shares were sold at an average price of $216.73, for a total transaction of $726,912.42. Following the transaction, the vice president now owns 14,186 shares in the company, valued at approximately $3,074,531.78. The disclosure for this sale can be found here. Insiders sold 33,122 shares of company stock worth $7,612,739 over the last three months. 0.82% of the stock is owned by insiders.

L3Harris Technologies Trading Down 1.0 %

Shares of NYSE LHX traded down $2.43 on Thursday, reaching $234.07. 107,974 shares of the company traded hands, compared to its average volume of 956,172. The company has a 50 day moving average of $230.36 and a 200 day moving average of $220.40. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. L3Harris Technologies, Inc. has a fifty-two week low of $160.25 and a fifty-two week high of $245.60. The stock has a market capitalization of $44.40 billion, a PE ratio of 38.39, a P/E/G ratio of 1.96 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. L3Harris Technologies’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.97 earnings per share. On average, equities research analysts forecast that L3Harris Technologies, Inc. will post 13.06 earnings per share for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

Several analysts have issued reports on LHX shares. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $275.00 to $257.00 in a report on Friday, August 9th. Barclays upped their target price on L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna raised their price target on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a “buy” rating to a “hold” rating and increased their price objective for the company from $245.00 to $257.00 in a research note on Friday, July 26th. Finally, Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $250.00 to $240.00 in a research note on Wednesday, August 14th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.08.

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.