L3Harris Technologies (LHX) Scheduled to Post Quarterly Earnings on Thursday – MarketBeat

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L3Harris Technologies (NYSE:LHX – Get Rating) is scheduled to announce its earnings results after the market closes on Thursday, October 27th. Analysts expect the company to announce earnings of $3.47 per share for the quarter. L3Harris Technologies has set its FY 2022 guidance at $13.35-$13.35 EPS and its FY22 guidance at $13.35-13.65 EPS.Investors interested in participating in the company’s conference call can do so using this link.
L3Harris Technologies (NYSE:LHX – Get Rating) last issued its earnings results on Thursday, July 28th. The company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.16 by $0.07. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.23 billion. L3Harris Technologies had a return on equity of 13.09% and a net margin of 11.36%. L3Harris Technologies’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.26 EPS. 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 0.4 %

Shares of LHX stock opened at $237.61 on Thursday. The stock has a market capitalization of $45.47 billion, a PE ratio of 24.47, a P/E/G ratio of 4.89 and a beta of 0.70. L3Harris Technologies has a 1-year low of $200.71 and a 1-year high of $279.71. The business has a 50-day moving average of $228.49 and a 200 day moving average of $234.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.01.

L3Harris Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Thursday, September 1st. L3Harris Technologies’s payout ratio is 46.14%.

Wall Street Analysts Forecast Growth

LHX has been the subject of a number of recent analyst reports. Royal Bank of Canada initiated coverage on L3Harris Technologies in a research report on Monday, August 29th. They set an “outperform” rating and a $285.00 price target for the company. Wolfe Research initiated coverage on L3Harris Technologies in a research report on Monday, October 10th. They set a “peer perform” rating for the company. StockNews.com initiated coverage on L3Harris Technologies in a research report on Wednesday, October 12th. They set a “buy” rating for the company. TheStreet lowered L3Harris Technologies from a “b” rating to a “c” rating in a research report on Thursday, September 29th. Finally, Credit Suisse Group began coverage on L3Harris Technologies in a research report on Tuesday, October 11th. They issued an “outperform” rating and a $267.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and an average target price of $268.55.

Insider Activity at L3Harris Technologies

In related news, VP James P. Girard sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $240.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the vice president now owns 12,143 shares of the company’s stock, valued at approximately $2,914,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other L3Harris Technologies news, VP James P. Girard sold 12,460 shares of the stock in a transaction on Monday, October 17th. The stock was sold at an average price of $220.00, for a total transaction of $2,741,200.00. Following the sale, the vice president now directly owns 12,144 shares in the company, valued at approximately $2,671,680. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James P. Girard sold 7,500 shares of the stock in a transaction on Monday, August 15th. The shares were sold at an average price of $240.00, for a total value of $1,800,000.00. Following the sale, the vice president now owns 12,143 shares in the company, valued at $2,914,320. The disclosure for this sale can be found here. Insiders sold a total of 28,478 shares of company stock valued at $6,568,058 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of L3Harris Technologies

Institutional investors have recently added to or reduced their stakes in the business. Eagle Bay Advisors LLC purchased a new stake in L3Harris Technologies during the 2nd quarter valued at $30,000. Ethic Inc. purchased a new stake in L3Harris Technologies during the 1st quarter valued at $201,000. Wsfs Capital Management LLC purchased a new stake in L3Harris Technologies during the 1st quarter valued at $223,000. Verition Fund Management LLC purchased a new stake in L3Harris Technologies during the 2nd quarter valued at $266,000. Finally, Acadian Asset Management LLC boosted its stake in shares of L3Harris Technologies by 283.0% in the 1st quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock worth $272,000 after buying an additional 815 shares during the last quarter. 83.00% of the stock is currently owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

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L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Earnings History for L3Harris Technologies (NYSE:LHX)
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