$4.45 Billion in Sales Expected for L3Harris (NYSE:LHX) This Quarter

Analysts forecast that L3Harris (NYSE:LHX) will announce sales of $4.45 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for L3Harris’ earnings, with the highest sales estimate coming in at $4.50 billion and the lowest estimate coming in at $4.40 billion. L3Harris posted sales of $1.54 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 189%. The firm is expected to issue its next earnings report before the market opens on Wednesday, October 30th.

On average, analysts expect that L3Harris will report full year sales of $18.06 billion for the current financial year, with estimates ranging from $18.05 billion to $18.07 billion. For the next financial year, analysts expect that the firm will report sales of $19.28 billion, with estimates ranging from $19.18 billion to $19.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow L3Harris.

L3Harris (NYSE:LHX) last released its earnings results on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.14. L3Harris had a net margin of 13.95% and a return on equity of 29.39%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the business earned $1.78 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year.

LHX has been the topic of several research reports. Vertical Research initiated coverage on L3Harris in a research note on Wednesday, July 3rd. They set a “buy” rating and a $204.70 target price on the stock. Credit Suisse Group increased their target price on L3Harris from $220.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their target price on L3Harris from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Goldman Sachs Group began coverage on L3Harris in a research report on Tuesday, July 9th. They issued a “buy” rating and a $240.00 price target on the stock. Finally, Zacks Investment Research raised L3Harris from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $237.25.

LHX opened at $198.08 on Friday. The business’s 50-day moving average price is $209.75. L3Harris has a 12-month low of $123.24 and a 12-month high of $217.31. The company has a current ratio of 1.14, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82. The firm has a market cap of $44.72 billion, a price-to-earnings ratio of 24.24, a price-to-earnings-growth ratio of 2.59 and a beta of 0.92.

In other L3Harris news, CEO William M. Brown sold 130,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $211.07, for a total value of $27,439,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas A. Dattilo purchased 1,000 shares of L3Harris stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $200.80 per share, for a total transaction of $200,800.00. In the last ninety days, insiders acquired 11,800 shares of company stock worth $2,402,722 and sold 511,068 shares worth $108,033,097. 1.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new position in shares of L3Harris in the second quarter worth $70,474,000. Stephens Investment Management Group LLC acquired a new position in L3Harris during the third quarter worth $46,991,000. Marshall Wace LLP acquired a new position in L3Harris during the second quarter worth $33,411,000. Envestnet Asset Management Inc. acquired a new position in L3Harris during the third quarter worth $32,524,000. Finally, Panagora Asset Management Inc. acquired a new position in L3Harris during the second quarter worth $19,308,000. 97.80% of the stock is currently owned by institutional investors and hedge funds.

L3Harris Company Profile

L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.

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