L3Harris Technologies (LHX) Scheduled to Post Earnings on Thursday

L3Harris Technologies (NYSE:LHXGet Rating) will be announcing its earnings results after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $3.21 per share for the quarter. L3Harris Technologies has set its FY 2022 guidance at $12.75-$13.00 EPS and its FY22 guidance at $12.75-13.00 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

L3Harris Technologies (NYSE:LHXGet Rating) last issued its earnings results on Thursday, October 27th. The company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.18). The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. L3Harris Technologies had a return on equity of 13.18% and a net margin of 6.71%. L3Harris Technologies’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the firm posted $3.21 EPS. On average, analysts expect L3Harris Technologies to post $13 EPS for the current fiscal year and $13 EPS for the next fiscal year.

L3Harris Technologies Stock Performance

Shares of NYSE LHX opened at $194.72 on Wednesday. The firm’s 50-day moving average price is $211.25 and its 200-day moving average price is $224.13. L3Harris Technologies has a 52-week low of $189.73 and a 52-week high of $279.71. The company has a market cap of $37.08 billion, a PE ratio of 33.81, a PEG ratio of 5.62 and a beta of 0.73. The company has a quick ratio of 0.87, a current ratio of 1.10 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 20,000 shares of the stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the completion of the transaction, the chief executive officer now owns 98,926 shares of the company’s stock, valued at approximately $24,258,633.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dana A. Mehnert sold 1,985 shares of the business’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $227.25, for a total value of $451,091.25. Following the sale, the insider now owns 23,830 shares in the company, valued at $5,415,367.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher E. Kubasik sold 20,000 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $245.22, for a total transaction of $4,904,400.00. Following the sale, the chief executive officer now directly owns 98,926 shares in the company, valued at approximately $24,258,633.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,985 shares of company stock worth $6,502,391. Insiders own 1.00% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC bought a new stake in L3Harris Technologies during the third quarter worth approximately $236,000. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of L3Harris Technologies by 4.1% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,857 shares of the company’s stock valued at $1,425,000 after purchasing an additional 267 shares during the last quarter. Kentucky Retirement Systems raised its holdings in L3Harris Technologies by 4.6% during the 3rd quarter. Kentucky Retirement Systems now owns 14,979 shares of the company’s stock valued at $3,113,000 after buying an additional 664 shares during the period. Mather Group LLC. bought a new stake in L3Harris Technologies in the third quarter worth $218,000. Finally, Algert Global LLC purchased a new position in L3Harris Technologies during the third quarter worth $665,000. 82.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, October 28th. Bank of America cut L3Harris Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $285.00 to $250.00 in a research report on Friday, November 11th. Cowen lowered their price objective on shares of L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating on the stock in a research note on Thursday, January 12th. Truist Financial boosted their price objective on shares of L3Harris Technologies from $258.00 to $264.00 in a research report on Monday, January 9th. Finally, TheStreet downgraded L3Harris Technologies from a “b-” rating to a “c+” rating in a research note on Tuesday, November 22nd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $261.14.

L3Harris Technologies Company Profile

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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.

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Earnings History for L3Harris Technologies (NYSE:LHX)

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