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

L3Harris Technologies, Inc. (NYSE:LHX) declared a quarterly dividend on Friday, April 19th, RTT News reports. Stockholders of record on Tuesday, June 4th will be given a dividend of 1.16 per share on Tuesday, June 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.26%.

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 payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect L3Harris Technologies to earn $14.16 per share next year, which means the company should continue to be able to cover its $4.56 annual dividend with an expected future payout ratio of 32.2%.

L3Harris Technologies Price Performance

NYSE:LHX opened at $205.45 on Friday. The company has a 50-day moving average of $210.30 and a 200-day moving average of $199.84. The company has a market capitalization of $39.06 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.88 and a beta of 0.65. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $218.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 1.01.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. The company had revenue of $5.34 billion during the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $3.27 EPS. As a group, equities research analysts anticipate that L3Harris Technologies will post 12.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group raised their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Raymond James increased their target price on shares of L3Harris Technologies from $220.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 target price for the company in a research report on Thursday, January 11th. Royal Bank of Canada increased their target price on shares of L3Harris Technologies from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company dropped their target price on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $229.00.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares in the company, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other L3Harris Technologies news, Director William H. Swanson purchased 1,250 shares of the stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the transaction, the director now directly owns 1,543 shares in the company, valued at $332,285.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently modified their holdings of the business. Cowa LLC acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $26,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of L3Harris Technologies during the 1st quarter worth approximately $27,000. First Capital Advisors Group LLC. acquired a new stake in shares of L3Harris Technologies during the 2nd quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new position in L3Harris Technologies during the 2nd quarter worth approximately $30,000. Finally, Clear Street Markets LLC boosted its stake in L3Harris Technologies by 19,100.0% during the 4th quarter. Clear Street Markets LLC now owns 192 shares of the company’s stock worth $40,000 after acquiring an additional 191 shares during the last quarter. Institutional investors and hedge funds own 84.76% 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.