Equities analysts expect that L3Harris Technologies, Inc. (NYSE:LHX) will announce $4.65 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for L3Harris Technologies’ earnings, with the highest sales estimate coming in at $4.70 billion and the lowest estimate coming in at $4.63 billion. L3Harris Technologies posted sales of $4.45 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The firm is scheduled to issue its next quarterly earnings report on Friday, July 30th.
According to Zacks, analysts expect that L3Harris Technologies will report full-year sales of $18.73 billion for the current fiscal year, with estimates ranging from $18.50 billion to $18.83 billion. For the next fiscal year, analysts anticipate that the business will report sales of $19.67 billion, with estimates ranging from $18.97 billion to $20.03 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover L3Harris Technologies.
L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Friday, April 30th. The company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.26. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.62 billion. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 EPS.
Shares of LHX stock traded up $1.06 during trading hours on Wednesday, hitting $218.10. 945,759 shares of the company were exchanged, compared to its average volume of 1,207,015. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.18 and a current ratio of 1.37. L3Harris Technologies has a one year low of $158.09 and a one year high of $221.49. The business’s 50-day simple moving average is $210.22 and its two-hundred day simple moving average is $192.93. The stock has a market capitalization of $44.71 billion, a price-to-earnings ratio of 36.11, a P/E/G ratio of 0.96 and a beta of 0.80.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be paid a dividend of $1.02 per share. The ex-dividend date is Friday, May 28th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.87%. L3Harris Technologies’s dividend payout ratio is presently 40.48%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Longview Partners Guernsey LTD bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $864,584,000. Norges Bank bought a new stake in L3Harris Technologies during the fourth quarter worth approximately $372,443,000. Janus Henderson Group PLC boosted its holdings in L3Harris Technologies by 25.8% during the fourth quarter. Janus Henderson Group PLC now owns 8,301,442 shares of the company’s stock worth $1,569,118,000 after buying an additional 1,704,250 shares in the last quarter. Capital International Investors boosted its holdings in L3Harris Technologies by 9.1% during the first quarter. Capital International Investors now owns 8,609,701 shares of the company’s stock worth $1,745,029,000 after buying an additional 716,260 shares in the last quarter. Finally, Yacktman Asset Management LP bought a new stake in L3Harris Technologies during the first quarter worth approximately $137,707,000. Institutional investors and hedge funds own 80.58% of the company’s stock.
L3Harris Technologies Company Profile
L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modifications, and periodic depot maintenance services for ISR and airborne missions.
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