L3Harris Technologies (LHX) Expected to Announce Quarterly Earnings on Thursday

L3Harris Technologies (NYSE:LHX) is expected to be issuing its quarterly earnings data before the market opens on Thursday, January 30th. Analysts expect the company to announce earnings of $3.43 per share and revenue of $5,498,931.60 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same period in the prior year, the company posted $3.19 earnings per share. L3Harris Technologies’s revenue was up 7.7% on a year-over-year basis. On average, analysts expect L3Harris Technologies to post $13 EPS for the current fiscal year and $14 EPS for the next fiscal year.

L3Harris Technologies Stock Down 1.3 %

LHX opened at $220.02 on Thursday. L3Harris Technologies has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company has a market capitalization of $41.73 billion, a P/E ratio of 34.76, a P/E/G ratio of 1.74 and a beta of 0.75. 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 firm’s fifty day moving average price is $225.58 and its two-hundred day moving average price is $233.04.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of L3Harris Technologies from $268.00 to $291.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company cut their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Susquehanna cut their price objective on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their target price on shares of L3Harris Technologies from $270.00 to $265.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, L3Harris Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

Insider Activity at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,373 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the completion of the sale, the insider now directly owns 5,049 shares of the company’s stock, valued at $1,060,592.94. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 7,889 shares of company stock worth $1,800,572 over the last 90 days. Insiders own 0.87% of the company’s stock.

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.