L3Harris Technologies Inc (LHX) to Issue Quarterly Dividend of $1.25 on March 20th

L3Harris Technologies Inc (NYSE:LHX) announced a quarterly dividend on Friday, January 23rd. Stockholders of record on Friday, March 6th will be given a dividend of 1.25 per share on Friday, March 20th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. This is a 4.2% increase from L3Harris Technologies’s previous quarterly dividend of $1.20.

L3Harris Technologies has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 24 years. L3Harris Technologies has a dividend payout ratio of 41.1% meaning 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 $5.00 annual dividend with an expected future payout ratio of 39.9%.

L3Harris Technologies Trading Down 2.7%

NYSE:LHX opened at $368.41 on Wednesday. L3Harris Technologies has a 12 month low of $195.72 and a 12 month high of $379.23. The company has a current ratio of 1.19, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $338.52 and its 200 day moving average is $304.10. The stock has a market capitalization of $68.81 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 2.73 and a beta of 0.63.

L3Harris Technologies (NYSE:LHX) last posted its earnings results on Thursday, January 29th. The company reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.10. L3Harris Technologies had a return on equity of 10.43% and a net margin of 7.35%.The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.76 billion. During the same quarter in the prior year, the business posted $3.47 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jon Rambeau sold 5,528 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the transaction, the insider owned 7,660 shares of the company’s stock, valued at $2,836,651.20. The trade was a 41.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Melanie Rakita sold 751 shares of L3Harris Technologies stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $370.32, for a total value of $278,110.32. Following the completion of the transaction, the vice president owned 4,131 shares in the company, valued at $1,529,791.92. This represents a 15.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,025 shares of company stock valued at $6,824,370 over the last three months. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On L3Harris Technologies

A number of large investors have recently made changes to their positions in the stock. REAP Financial Group LLC raised its position in L3Harris Technologies by 12.9% during the 4th quarter. REAP Financial Group LLC now owns 254 shares of the company’s stock worth $74,000 after buying an additional 29 shares during the last quarter. Burns J W & Co. Inc. NY grew its holdings in L3Harris Technologies by 3.1% in the fourth quarter. Burns J W & Co. Inc. NY now owns 987 shares of the company’s stock valued at $290,000 after purchasing an additional 30 shares during the period. American National Bank & Trust increased its stake in L3Harris Technologies by 44.8% during the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock worth $28,000 after buying an additional 30 shares in the last quarter. CYBER HORNET ETFs LLC boosted its holdings in shares of L3Harris Technologies by 5.8% during the 4th quarter. CYBER HORNET ETFs LLC now owns 547 shares of the company’s stock worth $161,000 after purchasing an additional 30 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC increased its stake in shares of L3Harris Technologies by 3.7% in the 4th quarter. Turtle Creek Wealth Advisors LLC now owns 862 shares of the company’s stock worth $253,000 after acquiring an additional 31 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.