Equities analysts expect that L3Harris Technologies, Inc. (NYSE:LHX) will announce sales of $4.57 billion for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for L3Harris Technologies’ earnings, with estimates ranging from $4.48 billion to $4.73 billion. L3Harris Technologies reported sales of $4.46 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.5%. The business is expected to announce its next earnings results on Friday, October 29th.
On average, analysts expect that L3Harris Technologies will report full year sales of $18.45 billion for the current financial year, with estimates ranging from $18.36 billion to $18.57 billion. For the next year, analysts anticipate that the company will post sales of $19.16 billion, with estimates ranging from $18.90 billion to $19.87 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover L3Harris Technologies.
L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Tuesday, August 3rd. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $3.18 by $0.08. L3Harris Technologies had a return on equity of 12.60% and a net margin of 8.17%. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the prior year, the company posted $2.83 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis.
NYSE:LHX traded down $0.13 during mid-day trading on Friday, reaching $223.36. The stock had a trading volume of 17,093 shares, compared to its average volume of 1,119,426. The business’s 50 day moving average is $228.97 and its 200 day moving average is $218.52. L3Harris Technologies has a fifty-two week low of $158.09 and a fifty-two week high of $235.10. The stock has a market cap of $44.88 billion, a P/E ratio of 31.26, a PEG ratio of 2.06 and a beta of 0.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.70 and a quick ratio of 1.50.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Friday, September 3rd were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, September 2nd. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.83%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 35.17%.
In related news, SVP Scott T. Mikuen sold 28,321 shares of the company’s stock in a transaction on Tuesday, July 13th. The stock was sold at an average price of $225.25, for a total transaction of $6,379,305.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William M. Brown sold 85,162 shares of the company’s stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $229.19, for a total value of $19,518,278.78. The disclosure for this sale can be found here. In the last three months, insiders sold 455,771 shares of company stock worth $104,958,840. 1.40% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors increased its stake in shares of L3Harris Technologies by 9.1% in the first quarter. Capital International Investors now owns 8,609,701 shares of the company’s stock valued at $1,745,029,000 after buying an additional 716,260 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of L3Harris Technologies by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,603,794 shares of the company’s stock valued at $730,417,000 after purchasing an additional 117,923 shares in the last quarter. Geode Capital Management LLC grew its position in shares of L3Harris Technologies by 6.2% in the second quarter. Geode Capital Management LLC now owns 3,178,227 shares of the company’s stock valued at $684,777,000 after purchasing an additional 186,117 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of L3Harris Technologies by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 2,508,603 shares of the company’s stock valued at $508,443,000 after purchasing an additional 43,764 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in L3Harris Technologies by 9.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,117,203 shares of the company’s stock valued at $429,115,000 after buying an additional 175,050 shares during the period. 80.54% of the stock is owned by institutional investors and hedge funds.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.
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