$4.25 Billion in Sales Expected for L3Harris Technologies, Inc. (NYSE:LHX) This Quarter

Wall Street analysts forecast that L3Harris Technologies, Inc. (NYSE:LHXGet Rating) will post $4.25 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for L3Harris Technologies’ earnings. The lowest sales estimate is $4.21 billion and the highest is $4.31 billion. L3Harris Technologies reported sales of $4.67 billion during the same quarter last year, which indicates a negative year over year growth rate of 9%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that L3Harris Technologies will report full-year sales of $17.55 billion for the current fiscal year, with estimates ranging from $17.51 billion to $17.61 billion. For the next year, analysts forecast that the firm will post sales of $18.35 billion, with estimates ranging from $18.20 billion to $18.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow L3Harris Technologies.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $3.12 EPS for the quarter, beating the Zacks’ consensus estimate 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 net margin of 10.68% and a return on equity of 13.14%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.18 EPS.

Several research firms have issued reports on LHX. Robert W. Baird raised shares of L3Harris Technologies from a “neutral” rating to an “outperform” rating and set a $248.00 price target on the stock in a research note on Thursday, January 6th. Jefferies Financial Group decreased their price target on shares of L3Harris Technologies from $320.00 to $300.00 in a research note on Monday. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $266.00 price target on the stock in a research note on Tuesday, January 11th. Morgan Stanley raised their price target on shares of L3Harris Technologies from $230.00 to $276.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 2nd. Finally, Raymond James decreased their price target on shares of L3Harris Technologies from $250.00 to $243.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies currently has an average rating of “Buy” and a consensus price target of $265.09.

L3Harris Technologies stock opened at $235.21 on Tuesday. L3Harris Technologies has a 12-month low of $200.71 and a 12-month high of $279.71. The stock has a market capitalization of $45.41 billion, a P/E ratio of 25.29, a P/E/G ratio of 3.90 and a beta of 0.76. The firm’s 50-day moving average is $250.82 and its two-hundred day moving average is $230.50. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, June 17th. Investors of record on Friday, June 3rd will be issued a $1.12 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $4.48 annualized dividend and a yield of 1.90%. L3Harris Technologies’s payout ratio is 48.17%.

In related news, insider Edward J. Zoiss sold 4,730 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $220.00, for a total value of $1,040,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LHX. Van ECK Associates Corp raised its stake in shares of L3Harris Technologies by 11.6% during the third quarter. Van ECK Associates Corp now owns 1,067 shares of the company’s stock valued at $235,000 after purchasing an additional 111 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of L3Harris Technologies by 4.2% during the third quarter. Advisor Group Holdings Inc. now owns 57,708 shares of the company’s stock valued at $12,709,000 after purchasing an additional 2,346 shares during the period. Resources Investment Advisors LLC. raised its stake in shares of L3Harris Technologies by 4.7% during the third quarter. Resources Investment Advisors LLC. now owns 2,379 shares of the company’s stock valued at $524,000 after purchasing an additional 106 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of L3Harris Technologies by 2.3% during the third quarter. Daiwa Securities Group Inc. now owns 18,004 shares of the company’s stock valued at $3,965,000 after purchasing an additional 400 shares during the period. Finally, Regal Investment Advisors LLC raised its stake in shares of L3Harris Technologies by 3.7% during the third quarter. Regal Investment Advisors LLC now owns 1,619 shares of the company’s stock valued at $356,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 80.15% of the company’s stock.

About L3Harris Technologies (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.

Recommended Stories

Get a free copy of the Zacks research report on L3Harris Technologies (LHX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.