L3Harris Technologies, Inc. (NYSE:LHX) Shares Purchased by SouthState Corp

SouthState Corp raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 2.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,370 shares of the company’s stock after purchasing an additional 1,401 shares during the period. SouthState Corp’s holdings in L3Harris Technologies were worth $13,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC raised its holdings in shares of L3Harris Technologies by 0.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock worth $1,883,000 after purchasing an additional 40 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock worth $385,000 after purchasing an additional 42 shares in the last quarter. RFG Advisory LLC raised its holdings in shares of L3Harris Technologies by 3.1% in the 2nd quarter. RFG Advisory LLC now owns 1,416 shares of the company’s stock worth $318,000 after purchasing an additional 43 shares in the last quarter. Blossom Wealth Management raised its holdings in shares of L3Harris Technologies by 1.7% in the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock worth $604,000 after purchasing an additional 43 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. increased its position in shares of L3Harris Technologies by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after acquiring an additional 43 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Insider Transactions at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares in the company, valued at $3,261,095.04. This represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 8,964 shares of company stock worth $2,179,119. 0.87% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $300.00 in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Susquehanna lifted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $267.50.

L3Harris Technologies Stock Performance

LHX stock opened at $244.27 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $46.33 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 2.06 and a beta of 0.72. L3Harris Technologies, Inc. has a 12 month low of $184.34 and a 12 month high of $265.74. The firm has a 50 day moving average of $243.46 and a two-hundred day moving average of $232.52.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.19 earnings per share. As a group, equities analysts anticipate that L3Harris Technologies, Inc. will post 13.09 EPS for the current fiscal year.

L3Harris Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

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.