L3Harris Technologies (NYSE:LHX – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $12.95-13.15 for the period, compared to the consensus EPS estimate of $13.04. The company issued revenue guidance of $21.1-21.3 billion, compared to the consensus revenue estimate of $21.27 billion. L3Harris Technologies also updated its FY 2024 guidance to 12.950-13.150 EPS.
Analysts Set New Price Targets
LHX has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on shares of L3Harris Technologies from $262.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Truist Financial boosted their target price on L3Harris Technologies from $250.00 to $293.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Susquehanna lifted their price objective on L3Harris Technologies from $260.00 to $270.00 and gave the company a “positive” rating in a research note on Monday, July 29th. Barclays upped their target price on shares of L3Harris Technologies from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada downgraded shares of L3Harris Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $250.00 to $240.00 in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.71.
Read Our Latest Research Report on LHX
L3Harris Technologies Stock Performance
L3Harris Technologies (NYSE:LHX – Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.28 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.02%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 earnings per share. On average, sell-side analysts expect that L3Harris Technologies will post 13.06 EPS for the current fiscal year.
L3Harris Technologies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be given a $1.16 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a yield of 1.84%. L3Harris Technologies’s dividend payout ratio (DPR) is 74.24%.
Insiders Place Their Bets
In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the transaction, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.82% of the stock is owned by insiders.
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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