South State CORP. Boosts Stock Position in L3Harris Technologies, Inc. (NYSE:LHX)

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South State CORP. raised its position in shares of L3Harris Technologies, Inc. (NYSE:LHX) by 648.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,544 shares of the company’s stock after purchasing an additional 29,931 shares during the quarter. South State CORP.’s holdings in L3Harris Technologies were worth $5,866,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of LHX. KBC Group NV raised its holdings in L3Harris Technologies by 18.2% in the 3rd quarter. KBC Group NV now owns 34,837 shares of the company’s stock worth $5,917,000 after purchasing an additional 5,365 shares during the period. Global Retirement Partners LLC raised its holdings in L3Harris Technologies by 111.1% in the 3rd quarter. Global Retirement Partners LLC now owns 228 shares of the company’s stock worth $39,000 after purchasing an additional 120 shares during the period. Stokes Capital Advisors LLC raised its holdings in L3Harris Technologies by 4.5% in the 3rd quarter. Stokes Capital Advisors LLC now owns 21,492 shares of the company’s stock worth $3,650,000 after purchasing an additional 919 shares during the period. Banque Cantonale Vaudoise raised its holdings in L3Harris Technologies by 10.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 7,306 shares of the company’s stock worth $1,241,000 after purchasing an additional 700 shares during the period. Finally, Cigna Investments Inc. New raised its holdings in L3Harris Technologies by 12.3% in the 2nd quarter. Cigna Investments Inc. New now owns 7,072 shares of the company’s stock worth $1,201,000 after purchasing an additional 777 shares during the period. Institutional investors and hedge funds own 82.28% of the company’s stock.

L3Harris Technologies stock traded down $4.26 during mid-day trading on Friday, hitting $191.50. The company’s stock had a trading volume of 1,204,755 shares, compared to its average volume of 1,531,241. The firm has a market capitalization of $40.24 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 1.05 and a beta of 0.70. L3Harris Technologies, Inc. has a 1 year low of $142.01 and a 1 year high of $230.99. The company has a current ratio of 1.37, a quick ratio of 1.00 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $177.20 and its two-hundred day moving average is $179.05.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, October 30th. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.10. The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.50 billion. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 earnings per share. On average, equities analysts expect that L3Harris Technologies, Inc. will post 11.55 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, November 19th. L3Harris Technologies’s dividend payout ratio (DPR) is 33.73%.

A number of equities analysts have commented on LHX shares. Royal Bank of Canada reduced their target price on L3Harris Technologies from $219.00 to $199.00 and set an “outperform” rating for the company in a report on Monday, November 2nd. ValuEngine cut L3Harris Technologies from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Citigroup dropped their price target on L3Harris Technologies from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Cowen started coverage on L3Harris Technologies in a research report on Sunday, August 2nd. They issued a “buy” rating and a $240.00 price target for the company. Finally, Jefferies Financial Group restated a “buy” rating on shares of L3Harris Technologies in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eighteen have issued a buy rating to the stock. L3Harris Technologies presently has a consensus rating of “Buy” and an average target price of $239.24.

About L3Harris Technologies

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.

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Institutional Ownership by Quarter for L3Harris Technologies (NYSE:LHX)

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