Wall Street analysts forecast that L3Harris Technologies, Inc. (NYSE:LHX – Get 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:LHX – Get 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.
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.
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