L3Harris Technologies, Inc. to Post Q2 2022 Earnings of $3.12 Per Share, Jefferies Financial Group Forecasts (NYSE:LHX)

L3Harris Technologies, Inc. (NYSE:LHXGet Rating) – Equities research analysts at Jefferies Financial Group raised their Q2 2022 EPS estimates for shares of L3Harris Technologies in a note issued to investors on Sunday, May 1st. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the company will post earnings of $3.12 per share for the quarter, up from their previous estimate of $3.11. Jefferies Financial Group also issued estimates for L3Harris Technologies’ Q3 2022 earnings at $3.49 EPS, Q4 2022 earnings at $3.87 EPS, FY2022 earnings at $13.60 EPS, FY2023 earnings at $14.90 EPS and FY2024 earnings at $16.50 EPS.

L3Harris Technologies (NYSE:LHXGet Rating) last posted 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 business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.13 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. The business’s revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $3.18 earnings per share.

A number of other analysts have also recently commented on LHX. 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 research report on Tuesday, January 11th. Wells Fargo & Company lifted their price target on L3Harris Technologies from $240.00 to $291.00 and gave the stock an “overweight” rating in a research note on Monday, March 7th. Robert W. Baird raised 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. TheStreet raised L3Harris Technologies from a “c” rating to a “b-” rating in a research note on Monday, January 31st. Finally, StockNews.com lowered L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $265.09.

L3Harris Technologies stock opened at $235.21 on Tuesday. The stock has a market capitalization of $45.41 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 3.91 and a beta of 0.76. L3Harris Technologies has a 12 month low of $200.71 and a 12 month high of $279.71. The business has a 50 day simple moving average of $250.82 and a 200-day simple moving average of $230.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.37.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, June 3rd will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, June 2nd. L3Harris Technologies’s dividend payout ratio (DPR) is currently 48.17%.

In other L3Harris Technologies news, insider Edward J. Zoiss sold 4,730 shares of the business’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $220.00, for a total transaction of $1,040,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Truvestments Capital LLC raised its position in L3Harris Technologies by 5.6% in the first quarter. Truvestments Capital LLC now owns 8,435 shares of the company’s stock valued at $2,096,000 after purchasing an additional 450 shares during the period. Patton Albertson Miller Group LLC purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at $219,000. Gilbert & Cook Inc. purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at $233,000. Mendel Capital Management LLC raised its holdings in shares of L3Harris Technologies by 9.3% in the 1st quarter. Mendel Capital Management LLC now owns 4,209 shares of the company’s stock valued at $1,046,000 after buying an additional 358 shares during the period. Finally, Integral Investment Advisors Inc. purchased a new stake in shares of L3Harris Technologies in the 1st quarter valued at $237,000. 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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Earnings History and Estimates for L3Harris Technologies (NYSE:LHX)

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