L3Harris Technologies (NYSE:LHX – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.06, Briefing.com reports. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.30 billion. L3Harris Technologies had a net margin of 5.73% and a return on equity of 13.05%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 earnings per share. L3Harris Technologies updated its FY24 guidance to $12.85-13.15 EPS and its FY 2024 guidance to 12.850-13.150 EPS.
L3Harris Technologies Trading Down 5.7 %
LHX stock traded down $13.86 on Friday, reaching $229.41. The company’s stock had a trading volume of 2,302,156 shares, compared to its average volume of 866,132. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.80 and a current ratio of 0.98. The firm has a market cap of $43.51 billion, a PE ratio of 37.24, a PEG ratio of 1.91 and a beta of 0.72. The business has a fifty day simple moving average of $226.21 and a two-hundred day simple moving average of $216.05. L3Harris Technologies has a 12-month low of $160.25 and a 12-month high of $245.60.
L3Harris Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be issued a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, September 6th. L3Harris Technologies’s dividend payout ratio is 75.32%.
Analyst Ratings Changes
Insider Buying and Selling at L3Harris Technologies
In other news, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $225.70, for a total transaction of $5,911,083.00. Following the completion of the transaction, the chief executive officer now directly owns 120,326 shares in the company, valued at $27,157,578.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sean J. Stackley sold 3,354 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $216.73, for a total transaction of $726,912.42. Following the completion of the transaction, the vice president now directly owns 14,186 shares in the company, valued at $3,074,531.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher E. Kubasik sold 26,190 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $225.70, for a total value of $5,911,083.00. Following the transaction, the chief executive officer now owns 120,326 shares of the company’s stock, valued at $27,157,578.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,312 shares of company stock valued at $24,712,822. 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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