L3Harris Technologies (NYSE:LHX – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 12.850-13.150 for the period, compared to the consensus EPS estimate of 12.970. The company issued revenue guidance of $21.0 billion-$21.3 billion, compared to the consensus revenue estimate of $21.2 billion. L3Harris Technologies also updated its FY24 guidance to $12.85-13.15 EPS.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their target price on L3Harris Technologies from $240.00 to $250.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised their target price on L3Harris Technologies from $245.00 to $250.00 and gave the company an outperform rating in a research report on Monday, April 29th. Barclays raised their target price on L3Harris Technologies from $238.00 to $245.00 and gave the company an overweight rating in a research report on Tuesday, April 30th. Alembic Global Advisors raised L3Harris Technologies from a neutral rating to an overweight rating and set a $238.00 target price for the company in a research report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered L3Harris Technologies from a buy rating to a hold rating and raised their target price for the company from $245.00 to $257.00 in a research report on Friday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $232.93.
View Our Latest Research Report on LHX
L3Harris Technologies Price Performance
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $3.18 by $0.06. L3Harris Technologies had a return on equity of 13.05% and a net margin of 5.73%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the business posted $2.97 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts predict that L3Harris Technologies will post 12.99 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is 75.32%.
Insider Transactions at L3Harris Technologies
In other news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total value of $5,627,750.00. Following the completion of the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,086,585.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 26,190 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total value of $5,911,083.00. Following the completion of the sale, the chief executive officer now directly owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,312 shares of company stock valued at $24,712,822. 0.82% of the stock is owned by corporate insiders.
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.
Featured Stories
- Five stocks we like better than L3Harris Technologies
- What is the Euro STOXX 50 Index?
- Why Call Options Volume for These 2 Stocks Spiked Together
- Insider Trades May Not Tell You What You Think
- MarketBeat Week in Review – 7/22 – 7/26
- How to Use High Beta Stocks to Maximize Your Investing Profits
- 3M Surprises and Rebound Accelerates: It Isn’t Too Late To Get In
Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.