What is Seaport Res Ptn’s Estimate for LHX FY2024 Earnings?

L3Harris Technologies, Inc. (NYSE:LHX) – Equities researchers at Seaport Res Ptn upped their FY2024 EPS estimates for L3Harris Technologies in a report issued on Thursday, December 12th. Seaport Res Ptn analyst R. Safran now anticipates that the company will post earnings per share of $13.08 for the year, up from their prior estimate of $13.06. The consensus estimate for L3Harris Technologies’ current full-year earnings is $13.09 per share. Seaport Res Ptn also issued estimates for L3Harris Technologies’ Q4 2024 earnings at $3.44 EPS, Q1 2025 earnings at $3.35 EPS, Q3 2025 earnings at $3.67 EPS and FY2025 earnings at $14.36 EPS.

L3Harris Technologies (NYSE:LHX) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.19 EPS.

LHX has been the topic of several other reports. Citigroup increased their price objective on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a research report on Tuesday, November 26th. Royal Bank of Canada lifted their price target on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Finally, Truist Financial increased their target price on L3Harris Technologies from $293.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Stock Performance

NYSE LHX opened at $223.16 on Monday. The business’s 50-day moving average price is $245.13 and its 200 day moving average price is $235.00. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. L3Harris Technologies has a twelve month low of $200.18 and a twelve month high of $265.74. The company has a market capitalization of $42.33 billion, a PE ratio of 35.25, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72.

Institutional Trading of L3Harris Technologies

Several institutional investors have recently added to or reduced their stakes in LHX. Meeder Asset Management Inc. raised its stake in shares of L3Harris Technologies by 260.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 119 shares of the company’s stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. Archer Investment Corp raised its stake in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after buying an additional 43 shares in the last quarter. Kennebec Savings Bank bought a new position in L3Harris Technologies during the 3rd quarter worth approximately $36,000. Family Firm Inc. acquired a new position in shares of L3Harris Technologies in the 2nd quarter worth approximately $45,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of L3Harris Technologies in the 2nd quarter worth approximately $57,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the transaction, the insider now directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.82% of the stock is currently owned by insiders.

L3Harris Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Monday, November 18th. L3Harris Technologies’s payout ratio is 73.30%.

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.