L3Harris Technologies (NYSE:LHX – Get Free Report) issued its quarterly earnings data on Thursday. The company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $3.18 by $0.06, Briefing.com reports. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same quarter last year, the firm earned $2.97 EPS. L3Harris Technologies’s quarterly revenue was up 12.9% on a year-over-year basis. L3Harris Technologies updated its FY24 guidance to $12.85-13.15 EPS and its FY 2024 guidance to 12.850-13.150 EPS.
L3Harris Technologies Stock Performance
L3Harris Technologies stock traded down $13.86 during mid-day trading on Friday, hitting $229.41. 2,215,825 shares of the company’s stock traded hands, compared to its average volume of 995,252. The firm has a 50 day moving average price of $226.21 and a 200 day moving average price of $215.96. The company has a quick ratio of 0.80, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The company has a market cap of $43.51 billion, a PE ratio of 37.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.72. L3Harris Technologies has a one year low of $160.25 and a one year high of $245.60.
L3Harris Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s payout ratio is currently 75.32%.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on L3Harris Technologies
Insider Buying and Selling at L3Harris Technologies
In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $225.11, for a total transaction of $5,627,750.00. Following the sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,086,585.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Christopher E. Kubasik sold 26,190 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 120,326 shares of the company’s stock, valued at approximately $27,157,578.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher E. Kubasik sold 25,000 shares of L3Harris Technologies stock in a transaction 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 transaction, the chief executive officer now owns 120,326 shares in the company, valued at $27,086,585.86. The disclosure for this sale can be found here. Insiders have sold 109,312 shares of company stock valued at $24,712,822 in the last quarter. Corporate insiders own 0.82% of the company’s stock.
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.
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