L3Harris Technologies Inc (NYSE:LHX) Announces Quarterly Dividend of $1.20

Key Points

• L3Harris Technologies Inc declared a quarterly dividend of $1.20 per share, payable on December 5th to stockholders of record as of November 17th, with an annual yield of 1.6%.
• The company reported a quarterly earnings per share (EPS) of $2.78, exceeding estimates by $0.30, and posted revenue of $5.43 billion, a 2.4% increase year-over-year.
• Analysts have generally rated L3Harris Technologies as a "Moderate Buy," with 13 analysts giving buy ratings and a consensus target price of $278.19.

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) declared a quarterly dividend on Monday, October 13th, RTT News reports. Stockholders of record on Monday, November 17th will be given a dividend of 1.20 per share on Friday, December 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%.

L3Harris Technologies has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Analysts expect L3Harris Technologies to earn $12.53 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 38.3%.

L3Harris Technologies Price Performance

LHX stock traded up $1.10 during mid-day trading on Monday, hitting $293.44. 648,496 shares of the stock were exchanged, compared to its average volume of 1,358,460. The stock has a market capitalization of $54.90 billion, a price-to-earnings ratio of 32.79, a PEG ratio of 2.14 and a beta of 0.76. The business has a fifty day moving average price of $281.74 and a 200 day moving average price of $253.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 0.87. L3Harris Technologies has a 12 month low of $193.09 and a 12 month high of $308.12.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $2.78 EPS for the quarter, topping the consensus estimate of $2.48 by $0.30. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%.The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the previous year, the business earned $3.24 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.400-10.600 EPS. On average, sell-side analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of L3Harris Technologies in a report on Wednesday, October 8th. UBS Group increased their price target on L3Harris Technologies from $262.00 to $280.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Robert W. Baird increased their price target on L3Harris Technologies from $274.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Truist Financial increased their price target on L3Harris Technologies from $279.00 to $302.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada increased their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $278.19.

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.

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