Buckingham Research Increases L3Harris (NYSE:LHX) Price Target to $237.00

L3Harris (NYSE:LHX) had its price objective raised by Buckingham Research from $197.00 to $237.00 in a report released on Thursday morning, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on the company. Vertical Research started coverage on L3Harris in a research note on Wednesday, July 3rd. They issued a buy rating and a $204.70 price target for the company. Morgan Stanley started coverage on L3Harris in a research note on Tuesday, August 6th. They issued an overweight rating and a $259.00 price target for the company. JPMorgan Chase & Co. lifted their price target on L3Harris from $210.00 to $235.00 and gave the company an overweight rating in a research note on Thursday, August 1st. Barclays set a $265.00 price target on L3Harris and gave the company a buy rating in a research note on Friday, August 2nd. Finally, Credit Suisse Group lifted their price target on L3Harris from $220.00 to $236.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $235.07.

Shares of LHX stock traded down $2.84 on Thursday, hitting $211.61. The company had a trading volume of 1,208,893 shares, compared to its average volume of 1,492,105. The stock has a market cap of $25.33 billion, a PE ratio of 25.53, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The company has a quick ratio of 1.15, a current ratio of 1.42 and a debt-to-equity ratio of 0.95. L3Harris has a twelve month low of $123.24 and a twelve month high of $214.99.

L3Harris (NYSE:LHX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $2.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.14. L3Harris had a return on equity of 29.27% and a net margin of 13.95%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the business earned $1.78 EPS. L3Harris’s revenue for the quarter was up 12.3% compared to the same quarter last year.

In other news, Director Lewis Hay III acquired 9,800 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $203.34 per share, for a total transaction of $1,992,732.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.51% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Shamrock Asset Management LLC purchased a new position in L3Harris during the 2nd quarter worth $1,646,000. Panagora Asset Management Inc. purchased a new position in L3Harris during the 2nd quarter worth $19,308,000. Congress Asset Management Co. MA purchased a new position in L3Harris during the 2nd quarter worth $6,997,000. Dougherty Wealth Advisers LLC purchased a new position in L3Harris during the 2nd quarter worth $31,000. Finally, New Mexico Educational Retirement Board purchased a new position in L3Harris during the 2nd quarter worth $1,826,000. Institutional investors own 95.82% of the company’s stock.

L3Harris Company Profile

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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Analyst Recommendations for L3Harris (NYSE:LHX)

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