L3Harris Technologies (LHX) Scheduled to Post Earnings on Thursday

L3Harris Technologies (NYSE:LHX) will announce its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $2.88 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

L3Harris Technologies (NYSE:LHX) last released its earnings results on Friday, January 26th. The company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $3.31 by $0.04. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The company had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter last year, the business earned $3.27 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. On average, analysts expect L3Harris Technologies to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

L3Harris Technologies Price Performance

NYSE LHX opened at $201.40 on Thursday. L3Harris Technologies has a 12 month low of $160.25 and a 12 month high of $218.34. The stock has a market cap of $38.29 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.89 and a beta of 0.65. The company’s 50 day moving average is $210.54 and its two-hundred day moving average is $199.59. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59.

L3Harris Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $1.16 per share. This is a boost from L3Harris Technologies’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $4.64 dividend on an annualized basis and a yield of 2.30%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 72.05%.

Analysts Set New Price Targets

A number of research firms have commented on LHX. UBS Group raised their target price on shares of L3Harris Technologies from $222.00 to $229.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. TheStreet upgraded shares of L3Harris Technologies from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. upgraded shares of L3Harris Technologies from a “neutral” rating to an “overweight” rating and set a $240.00 price objective on the stock in a research report on Thursday, January 11th. Wells Fargo & Company reduced their price objective on shares of L3Harris Technologies from $250.00 to $238.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 30th. Finally, Raymond James lifted their price objective on shares of L3Harris Technologies from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, Director William H. Swanson bought 1,250 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the acquisition, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 40,000 shares of L3Harris Technologies stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Swanson acquired 1,250 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the purchase, the director now directly owns 1,543 shares of the company’s stock, valued at $332,285.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 48,362 shares of company stock valued at $10,261,360. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LHX. Acadian Asset Management LLC boosted its stake in shares of L3Harris Technologies by 283.0% during the first quarter. Acadian Asset Management LLC now owns 1,103 shares of the company’s stock valued at $272,000 after purchasing an additional 815 shares during the period. Lord Abbett & CO. LLC purchased a new stake in shares of L3Harris Technologies during the first quarter valued at $8,013,000. Sei Investments Co. boosted its stake in shares of L3Harris Technologies by 14.2% during the first quarter. Sei Investments Co. now owns 62,374 shares of the company’s stock valued at $15,643,000 after purchasing an additional 7,773 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of L3Harris Technologies by 18.9% during the first quarter. Sequoia Financial Advisors LLC now owns 3,372 shares of the company’s stock valued at $838,000 after purchasing an additional 537 shares during the period. Finally, Brighton Jones LLC raised its holdings in shares of L3Harris Technologies by 16.7% in the first quarter. Brighton Jones LLC now owns 1,230 shares of the company’s stock valued at $306,000 after acquiring an additional 176 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

About L3Harris Technologies

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.