L3Harris Technologies, Inc. (LHX) to Issue Quarterly Dividend of $1.16 on December 6th

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 paid a dividend of 1.16 per share on Friday, December 6th. This represents a $4.64 annualized dividend and a yield of 1.88%. The ex-dividend date is Monday, November 18th.

L3Harris Technologies has increased its dividend by an average of 10.3% per year over the last three years and has raised its dividend annually for the last 23 consecutive years. L3Harris Technologies has a payout ratio of 32.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

LHX stock opened at $247.00 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies has a 1 year low of $184.34 and a 1 year high of $265.74. The company has a market cap of $46.85 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The stock’s fifty day moving average price is $243.16 and its 200-day moving average price is $232.02.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period last year, the firm posted $3.19 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts forecast that L3Harris Technologies will post 13.09 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now owns 13,328 shares of the company’s stock, valued at $3,261,095.04. The trade was a 18.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 8,964 shares of company stock valued at $2,179,119 in the last 90 days. Insiders own 0.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LHX. Deutsche Bank Aktiengesellschaft decreased their price target 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. Morgan Stanley downgraded L3Harris Technologies from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $275.00 to $257.00 in a research report on Friday, August 9th. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Truist Financial lifted their price objective on L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Barclays increased their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $267.50.

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.