Equities Analysts Set Expectations for LHX FY2024 Earnings

L3Harris Technologies, Inc. (NYSE:LHX - Free Report) - Investment analysts at Seaport Res Ptn boosted 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 anticipates that the company will post earnings of $13.08 per share for the year, up from their previous estimate 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 - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $3.34 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 company had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year.

LHX has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their target price on L3Harris Technologies from $252.00 to $250.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Bank of America raised shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Argus upgraded L3Harris Technologies from a "hold" rating to a "buy" rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Truist Financial raised their price target on L3Harris Technologies from $293.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company dropped their target price 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. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $269.13.

L3Harris Technologies Stock Performance

LHX traded down $1.12 during trading hours on Monday, reaching $222.04. The company's stock had a trading volume of 1,419,969 shares, compared to its average volume of 913,450. L3Harris Technologies has a 52 week low of $200.18 and a 52 week high of $265.74. The firm has a market cap of $42.11 billion, a PE ratio of 35.35, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. The company's 50-day moving average is $245.13 and its 200-day moving average is $235.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LHX. Meeder Asset Management Inc. increased its position in L3Harris Technologies by 260.6% during the second quarter. Meeder Asset Management Inc. now owns 119 shares of the company's stock valued at $27,000 after acquiring an additional 86 shares during the last quarter. Archer Investment Corp boosted its stake in shares of L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares during the period. Kennebec Savings Bank bought a new stake in L3Harris Technologies in the third quarter worth about $36,000. Family Firm Inc. purchased a new stake in L3Harris Technologies in the 2nd quarter valued at about $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of L3Harris Technologies in the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Insider Activity at L3Harris Technologies

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

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders 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 yield of 2.09%. L3Harris Technologies's dividend payout ratio is presently 73.30%.

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.