SouthState Corp Has $15.63 Million Holdings in L3Harris Technologies Inc $LHX

SouthState Corp increased its holdings in L3Harris Technologies Inc (NYSE:LHX) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,294 shares of the company’s stock after acquiring an additional 1,799 shares during the period. SouthState Corp’s holdings in L3Harris Technologies were worth $15,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC increased its stake in L3Harris Technologies by 2.7% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock valued at $350,000 after buying an additional 37 shares during the last quarter. Independence Bank of Kentucky increased its stake in L3Harris Technologies by 44.4% in the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares during the last quarter. DB Fitzpatrick & Co Inc increased its stake in L3Harris Technologies by 1.0% in the 2nd quarter. DB Fitzpatrick & Co Inc now owns 4,450 shares of the company’s stock valued at $1,116,000 after buying an additional 42 shares during the last quarter. Riverbend Wealth Management LLC increased its stake in L3Harris Technologies by 4.3% in the 2nd quarter. Riverbend Wealth Management LLC now owns 1,027 shares of the company’s stock valued at $258,000 after buying an additional 42 shares during the last quarter. Finally, Klingman & Associates LLC increased its stake in L3Harris Technologies by 2.2% in the 2nd quarter. Klingman & Associates LLC now owns 1,986 shares of the company’s stock valued at $498,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 83,000 shares of L3Harris Technologies stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $279.90, for a total value of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at approximately $40,747,282.20. The trade was a 36.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

LHX has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on shares of L3Harris Technologies from $265.00 to $280.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Citigroup increased their price objective on shares of L3Harris Technologies from $300.00 to $323.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Morgan Stanley increased their price objective on shares of L3Harris Technologies from $250.00 to $350.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of L3Harris Technologies in a research note on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.63.

L3Harris Technologies Stock Down 1.4%

L3Harris Technologies stock opened at $287.17 on Thursday. L3Harris Technologies Inc has a 1-year low of $193.09 and a 1-year high of $308.12. The firm has a market capitalization of $53.73 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 2.09 and a beta of 0.76. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $287.63 and a 200 day simple moving average of $263.09.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the business earned $3.34 EPS. L3Harris Technologies’s revenue was up 6.9% compared to the same quarter last year. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, analysts predict that L3Harris Technologies Inc will post 11.12 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Monday, November 17th. L3Harris Technologies’s payout ratio is currently 51.56%.

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.