Market News

L3Harris Technologies Rewards Shareholders with 10% Dividend Hike

Defense contractor and information technology services provider L3Harris Technologies (NYSE:LHX) recently announced a quarterly dividend of $1.12 per share, up 10% from the previous dividend of $1.02 per share.

The dividend will be paid on March 25, 2022, to shareholders of record as of March 11, 2022.

The company’s annual dividend of $4.48 per share now reflects a dividend yield of 1.9% based on Friday’s closing price.

Notably, the company has been raising its dividend consistently over the past three years, making it an attractive choice for investors.

CEO Comments

The CEO of L3Harris Technologies, Christopher E. Kubasik, said, “This increase builds on the success of our capital returns program and reflects our confidence in L3Harris’ financial outlook. We expect to create additional value through disciplined capital allocation, margin expansion and advancing our operational excellence program. We also plan to expand our topline by enhancing our position as a non-traditional prime – rapidly providing disruptive solutions and forming new partnerships to deliver emerging technologies to customers at the speed of relevance.”

Stock Rating

Recently, Jefferies analyst Sheila Kahyaoglu reiterated a Buy rating on the stock with a price target of $260, which implies upside potential of 11.3% from current levels.

Consensus among analysts is a Strong Buy based on 7 Buys and 2 Holds. The average L3Harris Technologies stock prediction of $247.67 implies upside potential of 6.1% from current levels. Shares have gained 26.5% over the past year.

News Sentiment

News Sentiment for LHX is Neutral based on nine articles over the past seven days. 100% of the articles have Bullish sentiment, compared to a sector average of 64%.

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