L3Harris Technologies (NYSE:LHX) Trading Up 6.3% After Dividend Announcement

L3Harris Technologies Inc (NYSE:LHX) shares rose 6.3% during trading on Thursday following a dividend announcement from the company. The company traded as high as $300.72 and last traded at $303.2370. Approximately 141,759 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,437,912 shares. The stock had previously closed at $285.16.

The newly announced dividend which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 54.29%.

Analyst Ratings Changes

A number of brokerages have issued reports on LHX. Truist Financial raised shares of L3Harris Technologies to a “strong-buy” rating in a research note on Friday, May 1st. UBS Group cut their price target on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Sanford C. Bernstein reduced their price target on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Wall Street Zen raised L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings cut L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $361.70.

L3Harris Technologies Stock Up 0.1%

The business’s 50-day moving average is $299.36 and its two-hundred day moving average is $328.58. The firm has a market capitalization of $55.90 billion, a price-to-earnings ratio of 32.58, a P/E/G ratio of 1.52 and a beta of 0.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same quarter in the previous year, the company earned $2.41 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, equities analysts anticipate that L3Harris Technologies Inc will post 11.54 earnings per share for the current year.

Insider Activity at L3Harris Technologies

In related news, VP Melanie Rakita sold 2,180 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the completion of the sale, the vice president owned 4,192 shares in the company, valued at $1,301,406.40. This represents a 34.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fideuram Asset Management Ireland dac bought a new stake in shares of L3Harris Technologies in the fourth quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of L3Harris Technologies during the 4th quarter valued at about $25,000. Motiv8 Investments LLC acquired a new position in shares of L3Harris Technologies in the 4th quarter valued at approximately $25,000. American National Bank & Trust grew its position in shares of 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 period. Finally, Cedar Mountain Advisors LLC increased its stake in L3Harris Technologies by 1,233.3% during the 1st quarter. Cedar Mountain Advisors LLC now owns 80 shares of the company’s stock worth $28,000 after purchasing an additional 74 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

L3Harris Technologies Company Profile

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.