L3Harris Technologies (NYSE:LHX – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17, Briefing.com reports. The firm had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the company posted $2.86 EPS. L3Harris Technologies updated its FY24 guidance to $12.70-$13.05 EPS and its FY 2024 guidance to 12.700-13.050 EPS.
L3Harris Technologies Price Performance
L3Harris Technologies stock opened at $214.54 on Friday. L3Harris Technologies has a 52-week low of $160.25 and a 52-week high of $218.34. The firm has a fifty day moving average of $210.16 and a 200-day moving average of $201.28. The firm has a market capitalization of $40.79 billion, a P/E ratio of 34.83, a PEG ratio of 1.93 and a beta of 0.65. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.
L3Harris Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s payout ratio is currently 75.32%.
Analyst Ratings Changes
Insider Activity
In other news, SVP Scott T. Mikuen sold 1,292 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the transaction, the senior vice president now directly owns 58,617 shares in the company, valued at $12,376,393.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director William H. Swanson bought 1,250 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now owns 1,543 shares of the company’s stock, valued at $332,285.05. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $211.14, for a total transaction of $272,792.88. Following the transaction, the senior vice president now owns 58,617 shares in the company, valued at $12,376,393.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,362 shares of company stock worth $10,261,360. 0.82% of the stock is currently owned by company insiders.
L3Harris Technologies Company Profile
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.
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