Wall Street analysts forecast that L3Harris (NYSE:LHX) will post earnings of $2.78 per share for the current quarter, according to Zacks. Six analysts have issued estimates for L3Harris’ earnings. The highest EPS estimate is $3.01 and the lowest is $2.63. L3Harris posted earnings per share of $1.96 in the same quarter last year, which would indicate a positive year over year growth rate of 41.8%. The business is expected to report its next quarterly earnings report on Tuesday, February 4th.
On average, analysts expect that L3Harris will report full year earnings of $10.00 per share for the current financial year, with EPS estimates ranging from $9.95 to $10.03. For the next financial year, analysts expect that the company will report earnings of $11.33 per share, with EPS estimates ranging from $11.00 to $11.53. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow L3Harris.
L3Harris (NYSE:LHX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The firm had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.43 billion. L3Harris’s quarterly revenue was up 187.4% on a year-over-year basis.
A number of brokerages have commented on LHX. Alembic Global Advisors started coverage on shares of L3Harris in a research report on Monday, November 18th. They set an “overweight” rating and a $235.00 price objective for the company. UBS Group set a $225.00 target price on L3Harris and gave the stock a “hold” rating in a research report on Friday, November 1st. ValuEngine downgraded L3Harris from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Zacks Investment Research raised L3Harris from a “hold” rating to a “buy” rating and set a $219.00 price target for the company in a report on Friday, November 1st. Finally, SunTrust Banks lifted their price target on L3Harris to $245.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $235.82.
In related news, CEO William M. Brown sold 106,552 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $207.82, for a total value of $22,143,636.64. Also, Director Thomas A. Dattilo purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $200.80 per share, with a total value of $200,800.00. Over the last ninety days, insiders sold 423,052 shares of company stock valued at $89,550,037. 1.70% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC purchased a new position in L3Harris in the 2nd quarter valued at about $25,000. Squar Milner Financial Services LLC lifted its stake in shares of L3Harris by 500.0% during the 3rd quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Sonora Investment Management LLC acquired a new stake in shares of L3Harris during the third quarter worth $26,000. Wealthcare Capital Management LLC acquired a new stake in shares of L3Harris during the third quarter worth $26,000. Finally, D Orazio & Associates Inc. purchased a new stake in shares of L3Harris in the third quarter valued at $27,000. 81.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of LHX opened at $194.27 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. The firm has a market cap of $44.45 billion, a PE ratio of 23.43, a P/E/G ratio of 2.51 and a beta of 0.88. The firm has a fifty day moving average price of $200.66. L3Harris has a 1 year low of $123.24 and a 1 year high of $217.31.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.00 dividend on an annualized basis and a yield of 1.54%. L3Harris’s dividend payout ratio (DPR) is presently 36.19%.
L3Harris Company Profile
L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
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