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

L3Harris Technologies Inc (NYSE:LHX - Get Free Report) announced a quarterly dividend on Thursday, July 17th, RTT News reports. Shareholders of record on Friday, September 5th will be paid a dividend of 1.20 per share on Monday, September 22nd. This represents a $4.80 annualized dividend and a yield of 1.81%.

L3Harris Technologies has a payout ratio of 39.4% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.8%

Shares of NYSE LHX traded up $2.03 during trading on Thursday, reaching $265.69. The stock had a trading volume of 1,469,398 shares, compared to its average volume of 1,162,121. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $266.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.02. The business's 50-day moving average price is $244.78 and its 200-day moving average price is $222.76. The company has a market cap of $49.67 billion, a P/E ratio of 31.52, a PEG ratio of 2.05 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $2.41 EPS for the quarter, beating analysts' consensus estimates of $2.32 by $0.09. The business had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.29 billion. L3Harris Technologies had a net margin of 7.55% and a return on equity of 12.38%. The business's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 earnings per share. On average, equities research analysts predict that L3Harris Technologies will post 11.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LHX shares. The Goldman Sachs Group raised shares of L3Harris Technologies from a "sell" rating to a "buy" rating and boosted their target price for the stock from $198.00 to $263.00 in a research report on Friday, April 11th. Wells Fargo & Company decreased their target price on L3Harris Technologies from $268.00 to $242.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. UBS Group upped their price target on shares of L3Harris Technologies from $222.00 to $226.00 and gave the stock a "neutral" rating in a research note on Monday, April 28th. Finally, Susquehanna set a $300.00 price objective on shares of L3Harris Technologies and gave the company a "positive" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $263.81.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $245.00, for a total transaction of $490,000.00. Following the completion of the sale, the insider owned 25,325 shares of the company's stock, valued at $6,204,625. This trade represents a 7.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at $36,171,730.56. This represents a 18.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in L3Harris Technologies stock. Brighton Jones LLC raised its holdings in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 233.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,284 shares of the company's stock after purchasing an additional 3,001 shares during the quarter. Brighton Jones LLC's holdings in L3Harris Technologies were worth $901,000 as of its most recent SEC filing. 84.76% of the stock is owned by institutional investors and hedge funds.

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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