L3Harris Technologies (NYSE:LHX) Releases FY22 Earnings Guidance

L3Harris Technologies (NYSE:LHX – Get 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:LHX – Get 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.

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