L3Harris Technologies (NYSE:LHX – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.17, Briefing.com reports. L3Harris Technologies had a return on equity of 12.68% and a net margin of 6.32%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. During the same period in the prior year, the company earned $2.86 EPS. L3Harris Technologies’s revenue was up 16.6% compared to the same quarter last year. L3Harris Technologies updated its FY24 guidance to $12.70-$13.05 EPS and its FY 2024 guidance to 12.700-13.050 EPS.
L3Harris Technologies Stock Up 3.5 %
Shares of LHX traded up $7.18 during trading hours on Friday, reaching $214.54. The stock had a trading volume of 2,131,337 shares, compared to its average volume of 1,126,028. L3Harris Technologies has a 12 month low of $160.25 and a 12 month high of $218.34. The firm has a 50-day simple moving average of $210.11 and a 200 day simple moving average of $201.04. The company has a current ratio of 1.01, a quick ratio of 0.82 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $40.79 billion, a price-to-earnings ratio of 33.02, a P/E/G ratio of 1.93 and a beta of 0.65.
L3Harris Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $1.16 dividend. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is currently 72.05%.
Analyst Upgrades and Downgrades
Check Out Our Latest Analysis on LHX
Insider Buying and Selling
In related news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Scott T. Mikuen sold 1,292 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $211.14, for a total value of $272,792.88. Following the completion of the sale, the senior vice president now directly owns 58,617 shares of the company’s stock, valued at approximately $12,376,393.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Swanson purchased 1,250 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $215.35 per share, with a total value of $269,187.50. Following the completion of the transaction, the director now directly owns 1,543 shares in the company, valued at approximately $332,285.05. The disclosure for this purchase can be found here. Insiders have sold a total of 48,362 shares of company stock worth $10,261,360 in the last ninety days. Corporate insiders own 0.82% of the company’s stock.
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
- Stock Trading Terms – Stock Terms Every Investor Needs to Know
- 3 Stocks Leading the U.S. Agriculture Comeback
- What Makes a Stock a Good Dividend Stock?
- How to Use Put Debit Spreads to Profit From Falling Stocks
- How to Invest in Biotech Stocks
- Alphabet Changes the Narrative with Its First-Ever Dividend
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.