Morgan Stanley began coverage on shares of L3Harris (NYSE:LHX) in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $259.00 price objective on the stock.
Several other research firms also recently commented on LHX. Vertical Research initiated coverage on L3Harris in a research report on Wednesday, July 3rd. They set a buy rating and a $204.70 target price for the company. Goldman Sachs Group initiated coverage on L3Harris in a research report on Tuesday, July 9th. They set a buy rating and a $240.00 target price for the company. JPMorgan Chase & Co. raised their target price on L3Harris from $210.00 to $235.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Credit Suisse Group raised their target price on L3Harris from $220.00 to $236.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Finally, SunTrust Banks raised their price target on L3Harris to $232.00 and gave the company a buy rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. L3Harris presently has an average rating of Buy and an average target price of $235.07.
Shares of L3Harris stock traded down $3.04 during midday trading on Tuesday, hitting $211.41. 25,296 shares of the company were exchanged, compared to its average volume of 1,425,432. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.42 and a quick ratio of 1.15. The company has a market capitalization of $24.23 billion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 2.85 and a beta of 0.95. L3Harris has a 52 week low of $123.24 and a 52 week high of $214.99.
In other L3Harris news, Director Lewis Hay III purchased 9,800 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $203.34 per share, with a total value of $1,992,732.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.51% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC acquired a new stake in shares of L3Harris during the second quarter worth $25,000. Dougherty Wealth Advisers LLC acquired a new stake in shares of L3Harris during the second quarter worth $31,000. Financial Gravity Wealth Inc. acquired a new stake in shares of L3Harris during the second quarter worth $74,000. Parallel Advisors LLC acquired a new stake in shares of L3Harris during the second quarter worth $100,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of L3Harris during the second quarter worth $306,000. 95.82% of the stock is owned by hedge funds and other institutional investors.
L3Harris Technologies, Inc provides technology-based solutions that solve government and commercial customers' mission-critical challenges in the United States and internationally. The company operates in three segments: Communication Systems, Electronic Systems, and Space and Intelligence Systems.
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