L3Harris Technologies, Inc. (NYSE:LHX) Expected to Announce Earnings of $3.28 Per Share

Wall Street analysts predict that L3Harris Technologies, Inc. (NYSE:LHX) will report earnings of $3.28 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for L3Harris Technologies’ earnings, with estimates ranging from $3.14 to $3.49. L3Harris Technologies reported earnings per share of $3.14 in the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The company is scheduled to announce its next quarterly earnings report on Friday, February 4th.

According to Zacks, analysts expect that L3Harris Technologies will report full year earnings of $12.94 per share for the current financial year, with EPS estimates ranging from $12.85 to $13.10. For the next fiscal year, analysts forecast that the business will report earnings of $13.62 per share, with EPS estimates ranging from $12.60 to $14.63. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow L3Harris Technologies.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings data on Friday, October 29th. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.03. L3Harris Technologies had a net margin of 8.58% and a return on equity of 13.08%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.52 billion. During the same period last year, the business posted $2.84 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis.

LHX has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of L3Harris Technologies in a report on Wednesday, September 8th. They set a “market perform” rating on the stock. Wells Fargo & Company lifted their price target on shares of L3Harris Technologies from $240.00 to $243.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 2nd. Raymond James lifted their price target on shares of L3Harris Technologies from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Credit Suisse Group lifted their price target on shares of L3Harris Technologies from $243.00 to $254.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Finally, Susquehanna boosted their price objective on shares of L3Harris Technologies from $244.00 to $270.00 and gave the stock a “positive” rating in a research note on Wednesday, August 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $236.17.

In other news, SVP Scott T. Mikuen sold 10,753 shares of the company’s stock in a transaction on Thursday, September 9th. The shares were sold at an average price of $230.77, for a total value of $2,481,469.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Todd W. Gautier sold 6,912 shares of the company’s stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $220.24, for a total transaction of $1,522,298.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 358,313 shares of company stock valued at $82,598,075. 1.40% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Annapolis Financial Services LLC purchased a new stake in L3Harris Technologies during the third quarter worth about $25,000. TCI Wealth Advisors Inc. boosted its position in L3Harris Technologies by 128.3% during the third quarter. TCI Wealth Advisors Inc. now owns 121 shares of the company’s stock worth $27,000 after purchasing an additional 68 shares during the period. Meridian Wealth Partners LLC bought a new position in shares of L3Harris Technologies in the first quarter valued at approximately $29,000. Bell Investment Advisors Inc bought a new position in shares of L3Harris Technologies in the third quarter valued at approximately $30,000. Finally, Stephenson National Bank & Trust bought a new stake in L3Harris Technologies during the third quarter valued at approximately $31,000. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LHX traded down $2.77 during midday trading on Thursday, reaching $218.74. 731,971 shares of the company were exchanged, compared to its average volume of 1,120,096. L3Harris Technologies has a fifty-two week low of $168.70 and a fifty-two week high of $246.08. The company has a quick ratio of 1.30, a current ratio of 1.54 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $226.58 and a two-hundred day simple moving average of $225.10. The firm has a market cap of $42.92 billion, a PE ratio of 28.93, a P/E/G ratio of 2.64 and a beta of 0.88.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Friday, November 19th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, November 18th. L3Harris Technologies’s dividend payout ratio is 53.97%.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Earnings History and Estimates for L3Harris Technologies (NYSE:LHX)

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