L3Harris Technologies (NYSE:LHX) Releases FY22 Earnings Guidance

L3Harris Technologies (NYSE:LHXGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $13.35-13.65 for the period, compared to the Thomson Reuters consensus estimate of $13.59. The company issued revenue guidance of $17.3-17.7 billion, compared to the consensus revenue estimate of $17.56 billion.

Several equities research analysts have recently commented on LHX shares. TheStreet upgraded L3Harris Technologies from a c rating to a b- rating in a report on Monday, January 31st. StockNews.com downgraded L3Harris Technologies from a buy rating to a hold rating in a report on Friday. Susquehanna Bancshares decreased their price objective on L3Harris Technologies from $264.00 to $255.00 and set a positive rating for the company in a report on Tuesday, February 1st. Susquehanna decreased their price objective on L3Harris Technologies from $264.00 to $255.00 and set a positive rating for the company in a report on Tuesday, February 1st. Finally, Wolfe Research upgraded L3Harris Technologies from a peer perform rating to an outperform rating and set a $266.00 price objective for the company in a report on Tuesday, January 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $252.73.

Shares of NYSE LHX traded down $6.83 during trading on Friday, reaching $232.26. 1,613,699 shares of the stock traded hands, compared to its average volume of 917,891. L3Harris Technologies has a 52-week low of $200.71 and a 52-week high of $279.71. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.40 and a quick ratio of 1.18. The company has a 50-day moving average of $250.50 and a 200-day moving average of $230.60. The stock has a market capitalization of $44.84 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 4.05 and a beta of 0.76.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.06. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.13 billion. L3Harris Technologies had a return on equity of 13.26% and a net margin of 10.36%. The business’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.18 EPS. Analysts expect that L3Harris Technologies will post 13.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, June 3rd will be issued a $1.12 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $4.48 annualized dividend and a dividend yield of 1.93%. L3Harris Technologies’s payout ratio is currently 48.17%.

In other news, insider Edward J. Zoiss sold 4,730 shares of the stock in a transaction dated Wednesday, February 9th. The stock was sold at an average price of $220.00, for a total transaction of $1,040,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in LHX. EverSource Wealth Advisors LLC bought a new position in L3Harris Technologies during the 4th quarter worth approximately $31,000. Salem Investment Counselors Inc. lifted its holdings in L3Harris Technologies by 172.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 876 shares of the company’s stock worth $187,000 after buying an additional 554 shares during the period. Crestwood Advisors Group LLC purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $215,000. Albion Financial Group UT lifted its holdings in L3Harris Technologies by 123.1% in the 4th quarter. Albion Financial Group UT now owns 1,131 shares of the company’s stock worth $241,000 after buying an additional 624 shares during the period. Finally, Titleist Asset Management LTD. purchased a new stake in L3Harris Technologies in the 4th quarter worth approximately $248,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

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.

Featured Stories

Earnings History and Estimates for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.