L3Harris Technologies (NYSE:LHX) Issues FY24 Earnings Guidance

by · The Cerbat Gem

L3Harris Technologies (NYSE:LHX – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $12.95-13.15 for the period, compared to the consensus EPS estimate of $13.04. The company issued revenue guidance of $21.1-21.3 billion, compared to the consensus revenue estimate of $21.27 billion. L3Harris Technologies also updated its FY 2024 guidance to 12.950-13.150 EPS.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LHX. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, October 10th. Truist Financial boosted their target price on L3Harris Technologies from $250.00 to $293.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Citigroup boosted their target price on L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Susquehanna upped their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the stock a “positive” rating in a research report on Monday, July 29th. Finally, Barclays upped their price objective on L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $256.71.

Get Our Latest Analysis on L3Harris Technologies

L3Harris Technologies Stock Down 0.7 %

NYSE LHX traded down $1.65 during trading hours on Thursday, hitting $244.17. 815,772 shares of the company traded hands, compared to its average volume of 908,249. The business’s 50-day moving average is $236.24 and its 200-day moving average is $226.77. L3Harris Technologies has a twelve month low of $169.55 and a twelve month high of $250.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.74 and a current ratio of 0.90. The stock has a market capitalization of $46.31 billion, a price-to-earnings ratio of 39.64, a P/E/G ratio of 2.08 and a beta of 0.73.

L3Harris Technologies (NYSE:LHX – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.24 EPS for the quarter, beating the consensus estimate of $3.18 by $0.06. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. L3Harris Technologies had a return on equity of 13.02% and a net margin of 5.73%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.97 earnings per share. Sell-side analysts anticipate that L3Harris Technologies will post 13.06 earnings per share for the current year.

L3Harris Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 1.90%. L3Harris Technologies’s payout ratio is 75.32%.

Insider Activity

In other news, insider Ross Niebergall sold 2,988 shares of the firm’s 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 completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at $3,261,095.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.82% of the company’s stock.

L3Harris Technologies Company Profile

(Get Free Report)

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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