Equities research analysts expect L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) to post sales of $4.24 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for L3Harris Technologies’ earnings, with the highest sales estimate coming in at $4.31 billion and the lowest estimate coming in at $4.19 billion. L3Harris Technologies posted sales of $4.67 billion in the same quarter last year, which would indicate a negative year over year growth rate of 9.2%. The company is scheduled to announce its next earnings results on Monday, January 1st.
On average, analysts expect that L3Harris Technologies will report full-year sales of $17.55 billion for the current year, with estimates ranging from $17.51 billion to $17.61 billion. For the next financial year, analysts expect that the firm will report sales of $18.37 billion, with estimates ranging from $18.20 billion to $18.55 billion. Zacks’ sales averages are an average based on a survey of analysts that cover L3Harris Technologies.
L3Harris Technologies (NYSE:LHX – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $3.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.13 billion. L3Harris Technologies had a net margin of 10.68% and a return on equity of 13.18%. The company’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.18 EPS.
Institutional investors have recently made changes to their positions in the stock. Equitec Proprietary Markets LLC bought a new stake in L3Harris Technologies in the 4th quarter valued at about $25,000. Concord Wealth Partners raised its stake in L3Harris Technologies by 69.4% in the 4th quarter. Concord Wealth Partners now owns 122 shares of the company’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Cowa LLC bought a new stake in L3Harris Technologies in the 1st quarter valued at about $26,000. Wagner Wealth Management LLC raised its stake in L3Harris Technologies by 296.9% in the 4th quarter. Wagner Wealth Management LLC now owns 127 shares of the company’s stock valued at $27,000 after acquiring an additional 95 shares during the period. Finally, Bell Investment Advisors Inc bought a new stake in L3Harris Technologies in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 80.15% of the company’s stock.
NYSE LHX traded up $4.13 during mid-day trading on Monday, hitting $240.92. The company’s stock had a trading volume of 668,039 shares, compared to its average volume of 1,446,124. The company’s 50 day simple moving average is $246.25 and its 200 day simple moving average is $231.41. L3Harris Technologies has a twelve month low of $200.71 and a twelve month high of $279.71. The company has a current ratio of 1.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $46.47 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 3.90 and a beta of 0.76.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Thursday, June 2nd. L3Harris Technologies’s payout ratio is 48.17%.
L3Harris Technologies Company Profile (Get Rating)
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.
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