L3Harris Technologies (LHX) Set to Announce Earnings on Thursday

L3Harris Technologies (NYSE:LHX) will be announcing its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce 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.Investors that wish to listen to the company’s conference call can do so using this link.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period last year, the firm earned $2.97 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. 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 Trading Up 1.2 %

Shares of LHX stock opened at $248.19 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.90 and a quick ratio of 0.74. The company has a market cap of $47.08 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 2.08 and a beta of 0.73. L3Harris Technologies has a 1 year low of $169.55 and a 1 year high of $249.00. The firm has a fifty day moving average price of $234.35 and a 200-day moving average price of $225.37.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 1.87%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 75.32%.

Analyst Ratings Changes

Several research firms have recently commented on LHX. Wells Fargo & Company decreased their price objective on L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Susquehanna increased their target price on shares of L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their price target 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. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Finally, Barclays raised their price objective on shares of L3Harris Technologies from $245.00 to $265.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.64.

Insiders Place Their Bets

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 transaction of $731,103.84. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.