Analysts predict that L3Harris (NYSE:LHX) will report $4.47 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for L3Harris’ earnings, with estimates ranging from $4.40 billion to $4.51 billion. L3Harris reported sales of $1.87 billion in the same quarter last year, which indicates a positive year over year growth rate of 139%. The business is expected to announce its next quarterly earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that L3Harris will report full-year sales of $18.58 billion for the current fiscal year, with estimates ranging from $18.42 billion to $18.83 billion. For the next year, analysts forecast that the company will post sales of $19.61 billion, with estimates ranging from $19.34 billion to $20.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for L3Harris.

L3Harris (NYSE:LHX) last announced its earnings results on Tuesday, May 5th. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.61 by $0.19. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.60 billion. L3Harris had a return on equity of 13.20% and a net margin of 8.30%. The firm’s quarterly revenue was up 167.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.32 earnings per share.

A number of brokerages have issued reports on LHX. ValuEngine raised L3Harris from a “sell” rating to a “hold” rating in a research report on Monday, March 9th. Seaport Global Securities initiated coverage on L3Harris in a research report on Tuesday, May 19th. They issued a “buy” rating and a $225.00 target price on the stock. Cowen restated a “buy” rating and issued a $240.00 price target on shares of L3Harris in a research note on Tuesday, May 5th. Credit Suisse Group dropped their price target on shares of L3Harris from $252.00 to $226.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, SunTrust Banks lowered their target price on shares of L3Harris from $265.00 to $255.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $239.40.

In related news, Director Thomas A. Corcoran sold 1,500 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $206.17, for a total transaction of $309,255.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger Fradin purchased 161 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average cost of $191.45 per share, with a total value of $30,823.45. Following the completion of the acquisition, the director now directly owns 725 shares of the company’s stock, valued at $138,801.25. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CSat Investment Advisory L.P. increased its holdings in L3Harris by 13.1% in the fourth quarter. CSat Investment Advisory L.P. now owns 422 shares of the company’s stock valued at $84,000 after buying an additional 49 shares in the last quarter. IMA Wealth Inc. increased its holdings in L3Harris by 24.2% in the fourth quarter. IMA Wealth Inc. now owns 257 shares of the company’s stock valued at $51,000 after buying an additional 50 shares in the last quarter. Pacer Advisors Inc. increased its holdings in L3Harris by 4.2% in the first quarter. Pacer Advisors Inc. now owns 1,326 shares of the company’s stock valued at $270,000 after buying an additional 54 shares in the last quarter. First National Bank of Omaha increased its holdings in L3Harris by 4.1% in the first quarter. First National Bank of Omaha now owns 1,366 shares of the company’s stock valued at $246,000 after buying an additional 54 shares in the last quarter. Finally, Cambridge Trust Co. increased its holdings in L3Harris by 5.0% in the first quarter. Cambridge Trust Co. now owns 1,165 shares of the company’s stock valued at $210,000 after buying an additional 56 shares in the last quarter. 84.85% of the stock is owned by hedge funds and other institutional investors.

NYSE LHX traded down $3.06 on Friday, reaching $171.74. The stock had a trading volume of 21,304 shares, compared to its average volume of 2,090,207. The firm has a market capitalization of $37.73 billion, a price-to-earnings ratio of 25.21 and a beta of 0.77. The company has a quick ratio of 1.21, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. L3Harris has a 12-month low of $142.01 and a 12-month high of $230.99. The stock has a fifty day moving average price of $187.17 and a two-hundred day moving average price of $197.41.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.85 per share. The ex-dividend date was Monday, June 1st. This represents a $3.40 annualized dividend and a yield of 1.98%. L3Harris’s dividend payout ratio is currently 33.73%.

L3Harris Company Profile

L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.

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Earnings History and Estimates for L3Harris (NYSE:LHX)

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