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

L3Harris Technologies, Inc. (NYSE:LHX) – Seaport Res Ptn upped their FY2024 earnings per share (EPS) estimates for shares of L3Harris Technologies in a research note issued on Thursday, December 12th. Seaport Res Ptn analyst R. Safran now anticipates that the company will earn $13.08 per share for the year, up from their prior estimate 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 (EPS) for the quarter, topping 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 the consensus estimate of $5.28 billion. During the same quarter last year, the company posted $3.19 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the company. Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price objective on the stock in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Bank of America raised shares of L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $240.00 to $300.00 in a report on Thursday, October 31st. Citigroup boosted their target price on shares of L3Harris Technologies from $268.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, StockNews.com raised L3Harris Technologies from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, L3Harris Technologies has an average rating of “Moderate Buy” and an average target price of $269.13.

L3Harris Technologies Stock Down 0.5 %

Shares of NYSE LHX opened at $222.04 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87. The stock has a market capitalization of $42.11 billion, a PE ratio of 35.08, a P/E/G ratio of 1.91 and a beta of 0.72. L3Harris Technologies has a one year low of $200.18 and a one year high of $265.74. The business’s fifty day moving average price is $244.74 and its 200-day moving average price is $235.02.

L3Harris Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 18th were paid a $1.16 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.64 annualized dividend and a dividend yield of 2.09%. L3Harris Technologies’s payout ratio is currently 73.30%.

Insider Activity at L3Harris Technologies

In related news, insider Ross Niebergall sold 2,988 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $247.93, for a total transaction of $740,814.84. Following the completion of the sale, the insider now owns 10,340 shares of the company’s stock, valued at $2,563,596.20. This trade represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On L3Harris Technologies

Institutional investors have recently modified their holdings of the business. Copley Financial Group Inc. bought a new stake in shares of L3Harris Technologies in the third quarter worth approximately $449,000. Franklin Resources Inc. grew its position in L3Harris Technologies by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 218,228 shares of the company’s stock worth $54,171,000 after purchasing an additional 1,221 shares during the period. Peapack Gladstone Financial Corp raised its stake in L3Harris Technologies by 0.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 41,577 shares of the company’s stock valued at $9,890,000 after buying an additional 194 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of L3Harris Technologies by 17.5% during the 3rd quarter. Synovus Financial Corp now owns 6,734 shares of the company’s stock valued at $1,602,000 after buying an additional 1,003 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth $1,704,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

About L3Harris Technologies

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.