LHX - L3Harris Technologies: My Favorite Dividend Growth Stock Continues To Fire On All Cylinders

2024-02-11 00:52:25 ET

Summary

• L3Harris Technologies is a well-diversified defense contractor with exposure in multi-domain defense, semiconductors, space defense, and surveillance.
• The company reported robust financial performance for fiscal year 2023, with notable increases in revenue, operating margin, and earnings per share.
• L3Harris is focused on reducing debt and aims to distribute every penny of free cash flow to shareholders through dividends and buybacks in the future.

Introduction

On December 20, I wrote an article titled "14% Annual Return Potential: L3Harris Is My Favorite Dividend Stock Going Into 2024."

In that article, I took an extremely detailed look at the well-diversified defense contractor L3Harris Technologies ( LHX ) , which has become one of the most important pillars of NATO defense capabilities after a major merger in 2019 and a series of divestitures and M&A projects, including Aerojet Rocketdyne....

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