L3Harris Technologies (NYSE:LHX – Get Free Report) released its earnings results on Thursday. The company reported $3.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.07, Briefing.com reports. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The firm had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business posted $3.19 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. L3Harris Technologies updated its FY24 guidance to $12.95-13.15 EPS and its FY 2024 guidance to 12.950-13.150 EPS.
L3Harris Technologies Trading Up 3.5 %
Shares of NYSE LHX traded up $8.64 during midday trading on Friday, hitting $252.81. The company’s stock had a trading volume of 1,620,429 shares, compared to its average volume of 911,712. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $236.59 and its two-hundred day moving average is $226.89. L3Harris Technologies has a 12-month low of $169.55 and a 12-month high of $258.89. The firm has a market cap of $47.95 billion, a P/E ratio of 41.03, a price-to-earnings-growth ratio of 2.08 and a beta of 0.73.
L3Harris Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 1.84%. L3Harris Technologies’s payout ratio is 75.32%.
Analyst Upgrades and Downgrades
View Our Latest Research Report on LHX
Insider Transactions at L3Harris Technologies
In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total value of $731,103.84. Following the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.82% of the company’s stock.
About L3Harris Technologies
L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.
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