L3Harris Technologies (NYSE:LHX – Get Free Report) announced its 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. The business had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $5.11 billion. L3Harris Technologies had a net margin of 5.82% and a return on equity of 12.82%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.86 earnings per share. 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 %
LHX opened at $214.54 on Friday. The company has a market capitalization of $40.79 billion, a PE ratio of 34.83, a price-to-earnings-growth ratio of 1.99 and a beta of 0.65. The firm has a 50-day simple moving average of $210.16 and a two-hundred day simple moving average of $201.44. The company has a quick ratio of 0.82, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. L3Harris Technologies has a 52 week low of $160.25 and a 52 week high of $218.34.
L3Harris Technologies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $1.16 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.64 dividend on an annualized basis and a yield of 2.16%. L3Harris Technologies’s dividend payout ratio is currently 75.32%.
Analyst Ratings Changes
Check Out Our Latest Research Report on LHX
Insider Activity
In related news, CEO Christopher E. Kubasik sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares of the company’s stock, valued at $24,654,658.50. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Christopher E. Kubasik sold 40,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the sale, the chief executive officer now owns 116,175 shares in the company, valued at $24,654,658.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward J. Zoiss sold 3,707 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $211.47, for a total transaction of $783,919.29. Following the sale, the insider now directly owns 28,644 shares in the company, valued at approximately $6,057,346.68. The disclosure for this sale can be found here. Insiders sold a total of 48,362 shares of company stock worth $10,261,360 over the last 90 days. 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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