$4.53 Billion in Sales Expected for L3Harris Technologies, Inc. (NYSE:LHX) This Quarter

Brokerages expect L3Harris Technologies, Inc. (NYSE:LHX) to announce sales of $4.53 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for L3Harris Technologies’ earnings, with the highest sales estimate coming in at $4.75 billion and the lowest estimate coming in at $4.44 billion. L3Harris Technologies reported sales of $4.66 billion in the same quarter last year, which indicates a negative year over year growth rate of 2.8%. The firm is expected to report its next earnings report on Friday, February 4th.

On average, analysts expect that L3Harris Technologies will report full-year sales of $17.92 billion for the current financial year, with estimates ranging from $17.85 billion to $17.95 billion. For the next financial year, analysts forecast that the firm will post sales of $18.43 billion, with estimates ranging from $17.66 billion to $19.87 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for L3Harris Technologies.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Friday, October 29th. The company reported $3.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.18 by $0.03. L3Harris Technologies had a net margin of 8.58% and a return on equity of 13.08%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.52 billion. During the same period in the prior year, the firm earned $2.84 earnings per share. L3Harris Technologies’s revenue was down 5.2% compared to the same quarter last year.

A number of equities analysts have recently weighed in on LHX shares. Susquehanna lifted their price target on shares of L3Harris Technologies from $244.00 to $270.00 and gave the stock a “positive” rating in a research report on Wednesday, August 4th. Wells Fargo & Company raised their price objective on shares of L3Harris Technologies from $240.00 to $243.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 2nd. Morgan Stanley dropped their price objective on shares of L3Harris Technologies from $238.00 to $230.00 and set an “equal weight” rating on the stock in a report on Thursday, November 4th. Raymond James raised their price objective on shares of L3Harris Technologies from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, August 4th. Finally, The Goldman Sachs Group lowered shares of L3Harris Technologies from a “neutral” rating to a “sell” rating and set a $207.00 price objective on the stock. in a report on Thursday, September 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, L3Harris Technologies currently has a consensus rating of “Hold” and an average price target of $236.17.

In other L3Harris Technologies news, insider William M. Brown sold 85,162 shares of the business’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $229.91, for a total value of $19,579,595.42. Following the completion of the sale, the insider now owns 293,776 shares of the company’s stock, valued at approximately $67,542,040.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd W. Gautier sold 6,912 shares of the business’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $220.24, for a total transaction of $1,522,298.88. The disclosure for this sale can be found here. In the last three months, insiders sold 358,313 shares of company stock valued at $82,598,075. Insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in LHX. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of L3Harris Technologies by 18.2% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 292 shares of the company’s stock valued at $63,000 after purchasing an additional 45 shares during the last quarter. Avestar Capital LLC boosted its stake in L3Harris Technologies by 4.2% during the second quarter. Avestar Capital LLC now owns 1,113 shares of the company’s stock worth $241,000 after acquiring an additional 45 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in L3Harris Technologies by 5.0% during the second quarter. Carolinas Wealth Consulting LLC now owns 963 shares of the company’s stock worth $208,000 after acquiring an additional 46 shares in the last quarter. JJJ Advisors Inc. boosted its stake in L3Harris Technologies by 19.7% during the third quarter. JJJ Advisors Inc. now owns 285 shares of the company’s stock worth $63,000 after acquiring an additional 47 shares in the last quarter. Finally, Baldwin Investment Management LLC raised its holdings in L3Harris Technologies by 0.6% during the second quarter. Baldwin Investment Management LLC now owns 8,045 shares of the company’s stock worth $1,739,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Shares of NYSE LHX traded down $2.77 during midday trading on Friday, reaching $218.74. 731,971 shares of the stock were exchanged, compared to its average volume of 1,120,096. The business has a 50-day simple moving average of $226.58 and a two-hundred day simple moving average of $225.10. The company has a market capitalization of $42.92 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 2.64 and a beta of 0.88. L3Harris Technologies has a 12 month low of $168.70 and a 12 month high of $246.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.54 and a quick ratio of 1.30.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 3rd. Stockholders of record on Friday, November 19th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date is Thursday, November 18th. L3Harris Technologies’s dividend payout ratio (DPR) is presently 53.97%.

About L3Harris Technologies

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.

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Earnings History and Estimates for L3Harris Technologies (NYSE:LHX)

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