L3Harris Technologies (NYSE:LHX – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.17, Briefing.com reports. L3Harris Technologies had a net margin of 6.32% and a return on equity of 12.68%. The business had revenue of $5.21 billion during the quarter, compared to the consensus estimate of $5.11 billion. During the same period in the previous year, the firm posted $2.86 earnings per share. L3Harris Technologies’s revenue for the quarter 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 Price Performance
LHX stock traded up $7.84 during mid-day trading on Friday, hitting $215.20. The stock had a trading volume of 1,551,007 shares, compared to its average volume of 1,117,986. The company has a current ratio of 1.01, a quick ratio of 0.82 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. The firm has a market capitalization of $40.91 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.93 and a beta of 0.65. The firm has a fifty day simple moving average of $210.11 and a 200 day simple moving average of $201.04.
L3Harris Technologies Dividend Announcement
The company also recently announced 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. This represents a $4.64 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, May 31st. L3Harris Technologies’s dividend payout ratio is currently 72.05%.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on L3Harris Technologies
Insider Buying and Selling at L3Harris Technologies
In related news, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $215.35 per share, for a total transaction of $269,187.50. Following the purchase, the director now owns 1,543 shares in the company, valued at approximately $332,285.05. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Scott T. Mikuen sold 1,292 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $211.14, for a total value of $272,792.88. Following the sale, the senior vice president now directly owns 58,617 shares in the company, valued at approximately $12,376,393.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William H. Swanson purchased 1,250 shares of L3Harris Technologies stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $215.35 per share, for a total transaction of $269,187.50. Following the completion of the purchase, the director now 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 valued at $10,261,360 in the last ninety days. 0.82% of the stock is currently owned by company 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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