What is Seaport Res Ptn’s Forecast for LHX FY2024 Earnings?

L3Harris Technologies, Inc. (NYSE:LHX) – Investment analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for L3Harris Technologies in a research report issued on Thursday, December 12th. Seaport Res Ptn analyst R. Safran now anticipates that the company will post earnings per share of $13.08 for the year, up from their prior forecast of $13.06. The consensus estimate for L3Harris Technologies’ current full-year earnings is $13.09 per share. Seaport Res Ptn also issued estimates for L3Harris Technologies’ Q4 2024 earnings at $3.44 EPS, Q1 2025 earnings at $3.35 EPS, Q3 2025 earnings at $3.67 EPS and FY2025 earnings at $14.36 EPS.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis.

Several other equities analysts have also commented on LHX. Wells Fargo & Company dropped their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of L3Harris Technologies from $252.00 to $250.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. StockNews.com raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Wolfe Research raised shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target for the company in a research report on Thursday, October 10th. Finally, Argus raised shares of L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $269.13.

L3Harris Technologies Trading Down 1.6 %

Shares of L3Harris Technologies stock opened at $218.45 on Monday. L3Harris Technologies has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The business’s fifty day moving average is $244.28 and its two-hundred day moving average is $234.98. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a market cap of $41.43 billion, a PE ratio of 34.51, a P/E/G ratio of 1.91 and a beta of 0.72.

Hedge Funds Weigh In On L3Harris Technologies

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in L3Harris Technologies by 106.2% in the second quarter. Blue Trust Inc. now owns 332 shares of the company’s stock valued at $71,000 after purchasing an additional 171 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of L3Harris Technologies by 28.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,875 shares of the company’s stock valued at $870,000 after buying an additional 850 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of L3Harris Technologies by 7.3% during the 2nd quarter. Apollon Wealth Management LLC now owns 17,252 shares of the company’s stock valued at $3,875,000 after buying an additional 1,175 shares during the last quarter. Continuum Advisory LLC grew its position in shares of L3Harris Technologies by 3,519.0% during the second quarter. Continuum Advisory LLC now owns 2,280 shares of the company’s stock worth $512,000 after buying an additional 2,217 shares in the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in shares of L3Harris Technologies by 0.7% in the second quarter. First Citizens Bank & Trust Co. now owns 10,943 shares of the company’s stock worth $2,458,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $244.68, for a total transaction of $731,103.84. Following the completion of the sale, the insider now directly owns 13,328 shares of the company’s stock, valued at approximately $3,261,095.04. This trade represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.82% of the company’s stock.

L3Harris Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 2.12%. L3Harris Technologies’s dividend payout ratio (DPR) is currently 73.30%.

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.