$4.82 Billion in Sales Expected for L3Harris (NYSE:LHX) This Quarter

Wall Street analysts predict that L3Harris (NYSE:LHX) will announce sales of $4.82 billion for the current quarter, according to Zacks. Six analysts have made estimates for L3Harris’ earnings, with estimates ranging from $4.80 billion to $4.85 billion. L3Harris reported sales of $1.67 billion during the same quarter last year, which would suggest a positive year over year growth rate of 188.6%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that L3Harris will report full year sales of $18.09 billion for the current fiscal year, with estimates ranging from $18.05 billion to $18.20 billion. For the next year, analysts forecast that the company will report sales of $19.22 billion, with estimates ranging from $19.11 billion to $19.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow L3Harris.

L3Harris (NYSE:LHX) last posted its earnings results on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.19. The company had revenue of $4.43 billion during the quarter, compared to the consensus estimate of $4.43 billion. L3Harris had a net margin of 12.02% and a return on equity of 16.42%. L3Harris’s quarterly revenue was up 187.4% compared to the same quarter last year.

LHX has been the subject of a number of recent analyst reports. ValuEngine cut shares of L3Harris from a “hold” rating to a “sell” rating in a report on Thursday, October 17th. UBS Group set a $225.00 price objective on shares of L3Harris and gave the company a “hold” rating in a report on Friday, November 1st. Barclays reaffirmed a “buy” rating and issued a $270.00 price objective on shares of L3Harris in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price objective on shares of L3Harris from $235.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Credit Suisse Group lifted their price objective on shares of L3Harris from $220.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $235.89.

LHX opened at $195.16 on Tuesday. L3Harris has a fifty-two week low of $123.24 and a fifty-two week high of $217.31. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $204.28. The stock has a market capitalization of $43.33 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 2.46 and a beta of 0.91.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.75 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.00 dividend on an annualized basis and a yield of 1.54%. L3Harris’s payout ratio is 36.19%.

In other news, insider Todd W. Gautier sold 11,972 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $212.90, for a total transaction of $2,548,838.80. Following the completion of the sale, the insider now owns 29,153 shares of the company’s stock, valued at $6,206,673.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott T. Mikuen sold 56,500 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $213.80, for a total transaction of $12,079,700.00. Insiders sold 511,068 shares of company stock valued at $108,033,097 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Lindbrook Capital LLC purchased a new stake in shares of L3Harris during the second quarter worth about $25,000. Squar Milner Financial Services LLC increased its stake in shares of L3Harris by 500.0% during the third quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Sonora Investment Management LLC purchased a new stake in shares of L3Harris during the third quarter worth about $26,000. Wealthcare Capital Management LLC purchased a new stake in shares of L3Harris during the third quarter worth about $26,000. Finally, D Orazio & Associates Inc. purchased a new stake in shares of L3Harris during the third quarter worth about $27,000. 97.80% of the stock is 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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Earnings History and Estimates for L3Harris (NYSE:LHX)

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