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

L3Harris Technologies, Inc. (NYSE:LHX) announced a quarterly dividend on Wednesday, October 16th, RTT News reports. Investors of record on Monday, November 18th will be given a dividend of 1.16 per share on Friday, December 6th. This represents a $4.64 annualized dividend and a yield of 1.87%.

L3Harris Technologies has increased its dividend by an average of 10.3% per year 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 32.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect L3Harris Technologies to earn $14.29 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 32.5%.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $248.19 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The firm has a market cap of $47.08 billion, a price-to-earnings ratio of 40.29, a P/E/G ratio of 2.08 and a beta of 0.73. The stock’s fifty day moving average price is $234.35 and its two-hundred day moving average price is $225.37. L3Harris Technologies has a one year low of $169.55 and a one year high of $249.00.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the prior year, the company posted $2.97 earnings per share. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts forecast that L3Harris Technologies will post 13.06 EPS for the current year.

Insider Activity

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $236.68, for a total transaction of $707,199.84. Following the sale, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.82% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Citigroup increased their target price on L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research note on Thursday, October 10th. Morgan Stanley downgraded shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $275.00 to $257.00 in a research note on Friday, August 9th. Finally, Susquehanna boosted their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.64.

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.