L3Harris Technologies, Inc. (NYSE:LHX) – Truist Securiti dropped their Q1 2021 EPS estimates for L3Harris Technologies in a report released on Thursday, April 15th. Truist Securiti analyst M. Ciarmoli now forecasts that the company will post earnings of $2.80 per share for the quarter, down from their previous forecast of $2.90. Truist Securiti also issued estimates for L3Harris Technologies’ Q3 2021 earnings at $3.33 EPS, Q4 2021 earnings at $3.74 EPS and FY2022 earnings at $14.57 EPS.
Several other equities research analysts also recently issued reports on the stock. Cowen reiterated a “buy” rating and issued a $210.00 target price on shares of L3Harris Technologies in a research note on Friday, February 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $208.00 target price on shares of L3Harris Technologies in a research note on Wednesday. Credit Suisse Group raised their target price on shares of L3Harris Technologies from $200.00 to $223.00 and gave the company an “outperform” rating in a research note on Tuesday. Morgan Stanley cut their price objective on shares of L3Harris Technologies from $235.00 to $226.00 and set an “overweight” rating for the company in a research report on Monday, February 8th. Finally, Citigroup cut their price objective on shares of L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Monday, February 1st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. L3Harris Technologies has an average rating of “Buy” and an average target price of $227.33.
L3Harris Technologies (NYSE:LHX) last issued its earnings results on Thursday, January 28th. The company reported $3.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.05. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the business posted $2.85 EPS. L3Harris Technologies’s revenue was down 3.6% on a year-over-year basis.
A number of large investors have recently made changes to their positions in LHX. Longview Partners Guernsey LTD bought a new position in L3Harris Technologies in the fourth quarter valued at approximately $864,584,000. Norges Bank acquired a new stake in L3Harris Technologies in the fourth quarter valued at approximately $372,443,000. Janus Henderson Group PLC boosted its position in L3Harris Technologies by 25.8% in the fourth quarter. Janus Henderson Group PLC now owns 8,301,442 shares of the company’s stock valued at $1,569,118,000 after buying an additional 1,704,250 shares in the last quarter. Truist Financial Corp boosted its position in L3Harris Technologies by 233.1% in the fourth quarter. Truist Financial Corp now owns 527,705 shares of the company’s stock valued at $99,747,000 after buying an additional 369,299 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its position in L3Harris Technologies by 156.7% in the fourth quarter. State of Wisconsin Investment Board now owns 588,443 shares of the company’s stock valued at $111,227,000 after buying an additional 359,224 shares in the last quarter. 80.58% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.94%. This is a boost from L3Harris Technologies’s previous quarterly dividend of $0.85. The ex-dividend date was Thursday, March 11th. L3Harris Technologies’s dividend payout ratio (DPR) is 40.48%.
About L3Harris Technologies
L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across air, land, sea, space and cyber domains. It operates through the following segments: Integrated Mission Systems; Space and Airborne Systems; Communication Systems; and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems; integrated electrical and electronic systems for maritime platforms; and advanced electro-optical and infrared solutions.
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