L3Harris Technologies, Inc. Declares Quarterly Dividend of $1.16 (NYSE:LHX)

L3Harris Technologies, Inc. (NYSE:LHX) declared a quarterly dividend on Wednesday, October 16th,RTT News reports. Stockholders of record on Monday, November 18th will be paid a dividend of 1.16 per share on Friday, December 6th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, November 18th.

L3Harris Technologies has raised its dividend payment by an average of 10.3% annually over the last three years and has increased its dividend annually for the last 23 consecutive years. L3Harris Technologies has a dividend payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect L3Harris Technologies to earn $14.37 per share next year, which means the company should continue to be able to cover its $4.64 annual dividend with an expected future payout ratio of 32.3%.

L3Harris Technologies Trading Down 0.5 %

LHX stock opened at $247.00 on Friday. The firm’s fifty day simple moving average is $243.16 and its two-hundred day simple moving average is $232.02. The stock has a market capitalization of $46.85 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. L3Harris Technologies has a twelve month low of $184.34 and a twelve month high of $265.74.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for 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 firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.19 EPS. As a group, analysts anticipate that L3Harris Technologies will post 13.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Barclays boosted their target price on shares of 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 shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, July 29th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reduced 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and a consensus price target of $267.50.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated 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 sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 8,964 shares of company stock valued at $2,179,119 over the last 90 days. Corporate insiders own 0.82% of the company’s stock.

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.