Q2 2022 EPS Estimates for L3Harris Technologies, Inc. (NYSE:LHX) Boosted by Seaport Res Ptn

Posted by on Jun 8th, 2022

L3Harris Technologies, Inc. (NYSE:LHX – Get Rating) – Equities researchers at Seaport Res Ptn upped their Q2 2022 earnings per share estimates for shares of L3Harris Technologies in a research note issued on Sunday, June 5th. Seaport Res Ptn analyst R. Safran now expects that the company will earn $3.18 per share for the quarter, up from their prior forecast of $3.15. Seaport Res Ptn also issued estimates for L3Harris Technologies’ Q4 2022 earnings at $3.57 EPS, FY2022 earnings at $13.67 EPS, Q3 2023 earnings at $3.87 EPS and Q4 2023 earnings at $4.32 EPS.

LHX has been the topic of several other research reports. Susquehanna Bancshares cut their target price on L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. Susquehanna dropped their price objective on L3Harris Technologies from $302.00 to $298.00 in a research note on Monday, May 2nd. StockNews.com cut L3Harris Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Jefferies Financial Group decreased their price objective on L3Harris Technologies from $320.00 to $300.00 in a report on Monday, May 2nd. Finally, Morgan Stanley increased their target price on L3Harris Technologies from $230.00 to $276.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $265.09.

Shares of LHX opened at $246.39 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.09 and a current ratio of 1.32. The stock has a 50 day simple moving average of $244.70 and a 200 day simple moving average of $232.53. L3Harris Technologies has a 52-week low of $200.71 and a 52-week high of $279.71. The firm has a market capitalization of $47.52 billion, a PE ratio of 26.49, a P/E/G ratio of 4.04 and a beta of 0.76.

L3Harris Technologies (NYSE:LHX – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $3.12 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.10. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.13 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 10.68%. The company’s revenue was down 10.2% on a year-over-year basis. During the same period last year, the company earned $3.18 earnings per share.

Several large investors have recently made changes to their positions in LHX. Pinnacle Private Wealth LLC purchased a new stake in shares of L3Harris Technologies during the fourth quarter valued at $351,000. Mcdonald Partners LLC raised its holdings in L3Harris Technologies by 2.6% in the 3rd quarter. Mcdonald Partners LLC now owns 25,708 shares of the company’s stock valued at $5,662,000 after acquiring an additional 650 shares during the last quarter. National Bank of Canada FI acquired a new stake in L3Harris Technologies in the 4th quarter valued at about $3,040,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of L3Harris Technologies by 2.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,994 shares of the company’s stock valued at $425,000 after buying an additional 47 shares during the period. Finally, Clearstead Trust LLC grew its stake in shares of L3Harris Technologies by 1.5% in the 4th quarter. Clearstead Trust LLC now owns 12,459 shares of the company’s stock valued at $2,657,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 80.15% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 17th. Stockholders of record on Friday, June 3rd will be given a dividend of $1.12 per share. The ex-dividend date is Thursday, June 2nd. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.82%. L3Harris Technologies’s payout ratio is 48.17%.

L3Harris Technologies Company Profile (Get Rating)

L3Harris Technologies, Inc, an aerospace and defense technology company, provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides multi-mission intelligence, surveillance, and reconnaissance (ISR) systems; and communication systems, as well as fleet management support, sensor development, modification, and periodic depot maintenance services for ISR and airborne missions.

Further Reading

Earnings History and Estimates for L3Harris Technologies (NYSE:LHX)

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