L3Harris Technologies (NYSE:LHX – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $3.18 by $0.06, Briefing.com reports. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the company posted $2.97 EPS. L3Harris Technologies’s revenue was up 12.9% on a year-over-year basis. L3Harris Technologies updated its FY24 guidance to $12.85-13.15 EPS and its FY 2024 guidance to 12.850-13.150 EPS.
L3Harris Technologies Stock Down 5.7 %
NYSE LHX traded down $13.86 on Friday, reaching $229.41. The company had a trading volume of 2,215,825 shares, compared to its average volume of 995,252. The firm has a market capitalization of $43.51 billion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. L3Harris Technologies has a 1-year low of $160.25 and a 1-year high of $245.60. The company’s fifty day moving average is $226.21 and its 200-day moving average is $215.96.
L3Harris Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is presently 75.32%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several brokerages have commented on LHX. Barclays upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. upped their target price on shares of L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Alembic Global Advisors upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Finally, Wells Fargo & Company upped their target price on shares of L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $232.93.
Check Out Our Latest Report on LHX
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.
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