L3Harris Technologies (NYSE:LHX – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06, Briefing.com reports. L3Harris Technologies had a return on equity of 13.05% and a net margin of 5.73%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the business earned $2.97 earnings per share. The business’s revenue for the quarter 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 %
L3Harris Technologies stock traded down $13.86 during midday trading on Friday, hitting $229.41. The stock had a trading volume of 2,302,156 shares, compared to its average volume of 866,132. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock has a market cap of $43.51 billion, a P/E ratio of 37.24, a P/E/G ratio of 1.91 and a beta of 0.72. L3Harris Technologies has a 12 month low of $160.25 and a 12 month high of $245.60. The business has a fifty day moving average price of $226.21 and a 200 day moving average price of $216.05.
L3Harris Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is currently 75.32%.
Insider Activity at L3Harris Technologies
Wall Street Analyst Weigh In
A number of research firms have issued reports on LHX. Deutsche Bank Aktiengesellschaft downgraded L3Harris Technologies from a “buy” rating to a “hold” rating and boosted their price target for the company from $245.00 to $257.00 in a research report on Friday. Alembic Global Advisors raised L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $238.00 price target for the company in a research report on Monday, April 22nd. JPMorgan Chase & Co. boosted their price target on L3Harris Technologies from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, Wells Fargo & Company boosted their price target on L3Harris Technologies from $238.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 7th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $232.93.
Get Our Latest Stock Report on LHX
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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