L3Harris Technologies (LHX) Scheduled to Post Earnings on Thursday

L3Harris Technologies (NYSE:LHX) is set to release its earnings data after the market closes on Thursday, April 25th. Analysts expect L3Harris Technologies to post earnings of $2.88 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Friday, January 26th. The company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $3.27 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. 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 Stock Performance

NYSE LHX opened at $201.40 on Thursday. The company’s 50 day moving average is $210.54 and its 200-day moving average is $199.59. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $218.34. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The firm has a market cap of $38.29 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.89 and a beta of 0.65.

L3Harris Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $1.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 annualized dividend and a dividend yield of 2.30%. This is a positive change from L3Harris Technologies’s previous quarterly dividend of $1.14. L3Harris Technologies’s payout ratio is 72.05%.

Insiders Place Their Bets

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Christopher E. Kubasik sold 40,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the sale, the chief executive officer now owns 116,175 shares of the company’s stock, valued at approximately $24,654,658.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Swanson acquired 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, with a total value of $269,187.50. Following the purchase, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders sold a total of 48,362 shares of company stock valued at $10,261,360 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently made changes to their positions in the business. Cowa LLC bought a new stake in L3Harris Technologies during the 1st quarter valued at $26,000. Strategic Investment Solutions Inc. IL bought a new stake in L3Harris Technologies during the 1st quarter valued at $27,000. First Capital Advisors Group LLC. bought a new stake in L3Harris Technologies during the 2nd quarter valued at $29,000. Eagle Bay Advisors LLC bought a new stake in L3Harris Technologies during the 2nd quarter valued at $30,000. Finally, Clear Street Markets LLC raised its holdings in L3Harris Technologies by 19,100.0% during the 4th quarter. Clear Street Markets LLC now owns 192 shares of the company’s stock valued at $40,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LHX. TheStreet raised shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. UBS Group boosted their price objective on shares of L3Harris Technologies from $222.00 to $229.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. StockNews.com cut shares of L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Citigroup boosted their price objective on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.00.

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.