L3Harris Technologies (NYSE:LHX – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 12.950-13.150 for the period, compared to the consensus earnings per share estimate of 13.040. The company issued revenue guidance of $21.1 billion-$21.3 billion, compared to the consensus revenue estimate of $21.3 billion. L3Harris Technologies also updated its FY24 guidance to $12.95-13.15 EPS.
Analyst Upgrades and Downgrades
LHX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Morgan Stanley cut shares of L3Harris Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $275.00 to $257.00 in a research report on Friday, August 9th. Truist Financial raised their target price on shares of L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Barclays raised their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $256.71.
Read Our Latest Report on L3Harris Technologies
L3Harris Technologies Stock Down 0.7 %
L3Harris Technologies (NYSE:LHX – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06. The business had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. L3Harris Technologies’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $2.97 EPS. Equities analysts predict that L3Harris Technologies will post 13.06 EPS for the current fiscal year.
L3Harris Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.16 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.90%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.
Insider Buying and Selling at L3Harris Technologies
In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares in the company, valued at approximately $3,261,095.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.82% of the stock is owned by company insiders.
About L3Harris Technologies
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.
See Also
- Five stocks we like better than L3Harris Technologies
- Trading Stocks: RSI and Why it’s Useful
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- How to Invest in Biotech Stocks
- Tesla Stock: Buy the Dips, Sell the Rips
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.