L3Harris Technologies (NYSE:LHX) Releases Earnings Results, Beats Expectations By $0.30 EPS

Key Points

• L3Harris Technologies reported a **quarterly earnings per share (EPS)** of **$2.78**, beating analysts' expectations of **$2.48** by **$0.30** and achieving a revenue of **$5.43 billion**, higher than the forecasted **$5.31 billion**.
• The company updated its **FY 2025 EPS guidance** to a range of **$10.400 - $10.600**, emphasizing a year-over-year revenue increase of **2.4%**.
• L3Harris announced a quarterly dividend of **$1.20**, with an annualized dividend yield of **1.78%**, indicating a dividend payout ratio of **53.63%**.

L3Harris Technologies (NYSE:LHX - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $2.78 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.30, Zacks reports. L3Harris Technologies had a return on equity of 11.82% and a net margin of 7.94%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.31 billion. During the same quarter in the prior year, the firm earned $3.24 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. L3Harris Technologies updated its FY 2025 guidance to 10.400-10.600 EPS.

L3Harris Technologies Stock Performance

Shares of NYSE:LHX traded down $4.15 during midday trading on Friday, hitting $269.07. The company's stock had a trading volume of 1,965,092 shares, compared to its average volume of 1,267,688. The stock has a market capitalization of $50.30 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.09 and a beta of 0.75. The stock's 50 day simple moving average is $251.14 and its 200 day simple moving average is $225.75. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $280.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.85 and a current ratio of 1.04.

L3Harris Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, September 5th. L3Harris Technologies's dividend payout ratio is currently 53.63%.

Insider Activity

In other news, CEO Christopher E. Kubasik sold 33,061 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $248.48, for a total value of $8,214,997.28. Following the sale, the chief executive officer directly owned 145,572 shares of the company's stock, valued at approximately $36,171,730.56. This trade represents a 18.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Edward J. Zoiss sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $245.00, for a total value of $490,000.00. Following the completion of the sale, the insider directly owned 25,325 shares in the company, valued at approximately $6,204,625. This represents a 7.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Institutional Investors Weigh In On L3Harris Technologies

A hedge fund recently raised its stake in L3Harris Technologies stock. Brighton Jones LLC lifted its stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) by 233.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,284 shares of the company's stock after buying an additional 3,001 shares during the period. Brighton Jones LLC's holdings in L3Harris Technologies were worth $901,000 at the end of the most recent reporting period. Institutional investors own 84.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup increased their target price on L3Harris Technologies from $300.00 to $323.00 and gave the company a "buy" rating in a report on Friday. Susquehanna increased their target price on L3Harris Technologies from $300.00 to $320.00 and gave the company a "positive" rating in a report on Friday. Truist Financial increased their target price on L3Harris Technologies from $279.00 to $302.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen lowered L3Harris Technologies from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Jefferies Financial Group reduced their target price on L3Harris Technologies from $260.00 to $250.00 and set a "buy" rating for the company in a report on Monday, March 31st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, L3Harris Technologies presently has an average rating of "Moderate Buy" and an average target price of $276.53.

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.

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