L3Harris Technologies, Inc. (NYSE:LHX) Plans $1.20 Quarterly Dividend

by · The Markets Daily

L3Harris Technologies, Inc. (NYSE:LHX – Get Free Report) announced a quarterly dividend on Thursday, April 17th, RTT News reports. Stockholders of record on Tuesday, June 3rd will be paid a dividend of 1.20 per share on Wednesday, June 18th. This represents a $4.80 annualized dividend and a dividend yield of 2.20%.

L3Harris Technologies has increased its dividend by an average of 4.4% annually over the last three years and has raised its dividend annually for the last 24 consecutive years. L3Harris Technologies has a payout ratio of 39.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect L3Harris Technologies to earn $12.53 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 38.3%.

L3Harris Technologies Price Performance

Shares of LHX traded down $0.87 during mid-day trading on Thursday, hitting $218.01. 1,411,617 shares of the company were exchanged, compared to its average volume of 1,000,847. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies has a 1-year low of $193.09 and a 1-year high of $265.74. The stock has a market cap of $40.92 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 2.42 and a beta of 0.71. The company has a 50 day moving average of $208.44 and a 200-day moving average of $223.51.

L3Harris Technologies (NYSE:LHX – Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a return on equity of 13.11% and a net margin of 7.04%. Analysts expect that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Susquehanna dropped their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Morgan Stanley dropped their target price on L3Harris Technologies from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Jefferies Financial Group cut their target price on L3Harris Technologies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. The Goldman Sachs Group raised shares of L3Harris Technologies from a “sell” rating to a “buy” rating and boosted their price target for the company from $198.00 to $263.00 in a research report on Friday, April 11th. Finally, Bank of America cut their price objective on shares of L3Harris Technologies from $300.00 to $265.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $256.35.

Check Out Our Latest Stock Analysis on L3Harris Technologies

Insider Buying and Selling

In other news, insider Edward J. Zoiss sold 1,783 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $211.48, for a total transaction of $377,068.84. Following the sale, the insider now owns 30,620 shares of the company’s stock, valued at approximately $6,475,517.60. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jon Rambeau sold 3,178 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $226.00, for a total value of $718,228.00. Following the completion of the sale, the insider now owns 2,797 shares in the company, valued at approximately $632,122. The trade was a 53.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

A hedge fund recently raised its stake in L3Harris Technologies stock. Brighton Jones LLC increased its position in shares of L3Harris Technologies, Inc. (NYSE:LHX – Free Report) by 233.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,284 shares of the company’s stock after buying an additional 3,001 shares during the period. Brighton Jones LLC’s holdings in L3Harris Technologies were worth $901,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

(Get Free Report)

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.

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