L3Harris Technologies, Inc. (NYSE:LHX) Declares $1.12 Quarterly Dividend – MarketBeat

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L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) announced a quarterly dividend on Friday, July 22nd, RTT News reports. Stockholders of record on Friday, September 2nd will be paid a dividend of 1.12 per share on Friday, September 16th. This represents a $4.48 annualized dividend and a dividend yield of 1.96%.
L3Harris Technologies has a payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect L3Harris Technologies to earn $14.71 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 30.5%.

L3Harris Technologies Trading Up 2.0 %

LHX stock traded up $4.44 on Friday, reaching $228.53. The company’s stock had a trading volume of 16,597 shares, compared to its average volume of 859,298. The business has a fifty day simple moving average of $234.39 and a two-hundred day simple moving average of $236.64. The firm has a market cap of $44.08 billion, a PE ratio of 24.10, a PEG ratio of 3.77 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.09 and a current ratio of 1.32. L3Harris Technologies has a 12-month low of $200.71 and a 12-month high of $279.71.
L3Harris Technologies (NYSE:LHX – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $3.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.10. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the business earned $3.18 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. As a group, research analysts forecast that L3Harris Technologies will post 13.55 EPS for the current year.

Insider Activity

In other L3Harris Technologies news, VP James P. Girard sold 7,500 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $240.00, for a total value of $1,800,000.00. Following the sale, the vice president now directly owns 10,811 shares of the company’s stock, valued at approximately $2,594,640. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On L3Harris Technologies

Hedge funds have recently made changes to their positions in the company. Cowa LLC acquired a new stake in L3Harris Technologies during the 1st quarter worth approximately $26,000. Federated Hermes Inc. raised its position in L3Harris Technologies by 1,879.9% during the 1st quarter. Federated Hermes Inc. now owns 120,658 shares of the company’s stock worth $29,979,000 after buying an additional 114,564 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of L3Harris Technologies by 58.1% in the 1st quarter. Prudential Financial Inc. now owns 280,959 shares of the company’s stock worth $69,810,000 after acquiring an additional 103,243 shares during the period. Cartenna Capital LP purchased a new stake in shares of L3Harris Technologies in the first quarter valued at about $14,908,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of L3Harris Technologies during the first quarter worth about $12,100,000. Hedge funds and other institutional investors own 80.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com lowered shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Susquehanna dropped their price objective on L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. Susquehanna Bancshares reduced their price target on shares of L3Harris Technologies from $302.00 to $298.00 in a report on Monday, May 2nd. Finally, Jefferies Financial Group decreased their price objective on L3Harris Technologies from $320.00 to $300.00 in a research note on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $265.09.

About L3Harris Technologies

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

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