L3Harris Technologies, Inc. (NYSE:LHX) Announces Dividend Increase - $1.20 Per Share

L3Harris Technologies, Inc. (NYSE:LHX - Get Free Report) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Monday, March 10th will be given a dividend of 1.20 per share on Friday, March 21st. This represents a $4.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from L3Harris Technologies's previous quarterly dividend of $1.16.

L3Harris Technologies has increased its dividend payment by an average of 4.4% 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 34.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect L3Harris Technologies to earn $12.53 per share next year, which means the company should continue to be able to cover its $4.64 annual dividend with an expected future payout ratio of 37.0%.

L3Harris Technologies Stock Performance

Shares of L3Harris Technologies stock traded down $0.23 during trading on Tuesday, hitting $207.47. 2,093,273 shares of the stock were exchanged, compared to its average volume of 917,026. The stock's fifty day moving average is $208.82 and its 200 day moving average is $227.94. The stock has a market cap of $39.07 billion, a PE ratio of 26.36, a P/E/G ratio of 2.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.90 and a current ratio of 1.08. L3Harris Technologies has a 12 month low of $193.09 and a 12 month high of $265.74.

L3Harris Technologies (NYSE:LHX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 7.04% and a return on equity of 13.11%. As a group, sell-side analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $213.65, for a total transaction of $376,878.60. Following the completion of the sale, the insider now directly owns 6,812 shares of the company's stock, valued at approximately $1,455,383.80. This represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 4,901 shares of company stock valued at $1,059,757. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Susquehanna decreased their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. UBS Group increased their target price on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Bank of America decreased their target price on shares of L3Harris Technologies from $300.00 to $265.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Raymond James lowered shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd. Finally, Argus upgraded shares of L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective for the company in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $261.47.

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.