L3Harris Technologies Inc (NYSE:LHX) Plans Quarterly Dividend of $1.25

L3Harris Technologies Inc (NYSE:LHX) announced a quarterly dividend on Friday, January 23rd. Investors of record on Friday, March 6th will be given a dividend of 1.25 per share on Friday, March 20th. This represents a c) annualized dividend and a 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 increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 24 consecutive years. L3Harris Technologies has a payout ratio of 39.4% 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 $4.80 annual dividend with an expected future payout ratio of 38.3%.

L3Harris Technologies Stock Performance

LHX stock traded down $1.09 during trading on Friday, hitting $354.66. 1,130,129 shares of the company traded hands, compared to its average volume of 1,955,722. L3Harris Technologies has a 1 year low of $193.09 and a 1 year high of $361.59. The company has a market cap of $66.34 billion, a PE ratio of 38.09, a P/E/G ratio of 2.15 and a beta of 0.66. The stock’s 50-day simple moving average is $299.75 and its 200 day simple moving average is $287.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.95.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.60 by $0.10. L3Harris Technologies had a net margin of 8.09% and a return on equity of 11.08%. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company earned $3.34 EPS. The business’s revenue was up 6.9% on a year-over-year basis. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. On average, equities analysts expect that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher E. Kubasik sold 14,171 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the transaction, the chief executive officer directly owned 144,426 shares in the company, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Kiker Wealth Management LLC boosted its position in shares of L3Harris Technologies by 137.0% during the 2nd quarter. Kiker Wealth Management LLC now owns 109 shares of the company’s stock valued at $27,000 after acquiring an additional 63 shares during the last quarter. Caitlin John LLC purchased a new position in L3Harris Technologies during the third quarter worth about $28,000. American National Bank & Trust boosted its holdings in L3Harris Technologies by 44.8% in the 4th quarter. American National Bank & Trust now owns 97 shares of the company’s stock valued at $28,000 after purchasing an additional 30 shares during the last quarter. JPL Wealth Management LLC purchased a new stake in shares of L3Harris Technologies in the 3rd quarter valued at approximately $29,000. Finally, Triumph Capital Management acquired a new stake in shares of L3Harris Technologies during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.