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

L3Harris Technologies Inc (NYSE:LHX)’s share price was up 6.3% during mid-day trading on Thursday following a dividend announcement from the company. The company traded as high as $300.72 and last traded at $303.2370. 141,759 shares were traded 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. Investors of record on Friday, September 4th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, September 4th. L3Harris Technologies’s payout ratio is currently 54.29%.

Analyst Ratings Changes

LHX has been the subject of a number of recent analyst reports. Truist Financial raised L3Harris Technologies to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings lowered L3Harris Technologies from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 23rd. UBS Group cut their price objective on L3Harris Technologies from $362.00 to $330.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Sanford C. Bernstein reduced their target price on L3Harris Technologies to $405.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Two 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $361.70.

L3Harris Technologies Price Performance

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

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.19. L3Harris Technologies had a net margin of 7.71% and a return on equity of 10.65%. The company had revenue of $5.74 billion for 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. L3Harris Technologies’s quarterly revenue was up 11.9% on a year-over-year basis. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. As a group, sell-side analysts expect that L3Harris Technologies Inc will post 11.54 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

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

Institutional Investors Weigh In On L3Harris Technologies

Several hedge funds have recently made changes to their positions in the company. Cedar Mountain Advisors LLC raised its holdings in L3Harris Technologies by 1,233.3% in the first 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. University of Texas Texas AM Investment Management Co. bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at $25,000. Tower View Wealth Management LLC bought a new stake in shares of L3Harris Technologies during the 1st quarter valued at $29,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth about $25,000. Finally, Motiv8 Investments LLC purchased a new stake in shares of L3Harris Technologies in the 4th quarter worth about $25,000. 84.76% of the stock is currently owned by institutional investors.

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.