L3Harris Technologies (LHX) to Release Earnings on Thursday

L3Harris Technologies (NYSE:LHX) is scheduled to release its earnings data after the market closes on Thursday, October 24th. Analysts expect L3Harris Technologies to post earnings of $3.26 per share for the quarter. L3Harris Technologies has set its FY24 guidance at $12.85-13.15 EPS and its FY 2024 guidance at 12.850-13.150 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, topping the consensus estimate of $3.18 by $0.06. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.97 earnings per share. On average, analysts expect L3Harris Technologies to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

L3Harris Technologies Stock Down 0.3 %

Shares of L3Harris Technologies stock opened at $248.15 on Tuesday. 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 company’s fifty day simple moving average is $235.50 and its two-hundred day simple moving average is $226.38. The company has a market cap of $47.07 billion, a P/E ratio of 40.28, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies has a 12-month low of $169.55 and a 12-month high of $250.88.

L3Harris Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Monday, November 18th. L3Harris Technologies’s payout ratio is currently 75.32%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $250.00 to $240.00 in a research report on Wednesday, August 14th. Susquehanna boosted their price objective on shares of L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research report on Monday, July 29th. Citigroup boosted their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, L3Harris Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $256.71.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $236.68, for a total value of $707,199.84. Following the transaction, the insider now owns 16,316 shares in the company, valued at $3,861,670.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.

L3Harris Technologies Company Profile

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.