Seaport Res Ptn Has Positive Outlook of LHX FY2024 Earnings

L3Harris Technologies, Inc. (NYSE:LHX) – Analysts at Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for shares of L3Harris Technologies in a research note issued on Thursday, December 12th. Seaport Res Ptn analyst R. Safran now expects that the company will post earnings of $13.08 per share for the year, up from their prior forecast of $13.06. The consensus estimate for L3Harris Technologies’ current full-year earnings is $13.09 per share. Seaport Res Ptn also issued estimates for L3Harris Technologies’ Q4 2024 earnings at $3.44 EPS, Q1 2025 earnings at $3.35 EPS, Q3 2025 earnings at $3.67 EPS and FY2025 earnings at $14.36 EPS.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the company posted $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year.

Other analysts have also recently issued research reports about the company. StockNews.com upgraded L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Argus upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Tuesday, November 26th. Wells Fargo & Company reduced their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Truist Financial upped their target price on shares of L3Harris Technologies from $293.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $269.13.

L3Harris Technologies Trading Down 0.5 %

NYSE LHX opened at $223.16 on Monday. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a market capitalization of $42.33 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The firm’s fifty day moving average price is $245.13 and its 200 day moving average price is $235.00.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.08%. L3Harris Technologies’s dividend payout ratio (DPR) is presently 73.30%.

Insider Buying and Selling

In related news, insider Ross Niebergall sold 2,988 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the sale, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of L3Harris Technologies

Large investors have recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in L3Harris Technologies by 106.2% during the 2nd quarter. Blue Trust Inc. now owns 332 shares of the company’s stock valued at $71,000 after acquiring an additional 171 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of L3Harris Technologies by 28.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,875 shares of the company’s stock worth $870,000 after purchasing an additional 850 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in L3Harris Technologies by 7.3% in the 2nd quarter. Apollon Wealth Management LLC now owns 17,252 shares of the company’s stock valued at $3,875,000 after buying an additional 1,175 shares in the last quarter. Continuum Advisory LLC grew its holdings in L3Harris Technologies by 3,519.0% during the 2nd quarter. Continuum Advisory LLC now owns 2,280 shares of the company’s stock valued at $512,000 after buying an additional 2,217 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in L3Harris Technologies by 0.7% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 10,943 shares of the company’s stock valued at $2,458,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

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.