Jefferies Financial Group Raises L3Harris (NYSE:LHX) Price Target to $250.00

L3Harris (NYSE:LHX) had its price target lifted by Jefferies Financial Group from $235.00 to $250.00 in a research report report published on Monday, The Fly reports. The firm currently has a buy rating on the stock.

LHX has been the topic of several other research reports. Barclays set a $265.00 price target on L3Harris and gave the stock a buy rating in a report on Friday, August 2nd. Vertical Research assumed coverage on L3Harris in a report on Wednesday, July 3rd. They issued a buy rating and a $204.70 price target on the stock. UBS Group increased their price target on L3Harris from $200.00 to $210.00 and gave the stock a neutral rating in a report on Thursday, August 1st. ValuEngine lowered L3Harris from a buy rating to a hold rating in a report on Tuesday, August 6th. Finally, SunTrust Banks increased their price target on L3Harris to $232.00 and gave the stock a buy rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $236.79.

Shares of L3Harris stock opened at $214.70 on Monday. L3Harris has a one year low of $123.24 and a one year high of $216.65. The company has a current ratio of 1.14, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82. The company’s 50-day simple moving average is $210.11. The company has a market cap of $47.11 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 2.68 and a beta of 0.94.

L3Harris (NYSE:LHX) last announced its earnings results on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.30 by $0.14. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the company earned $1.78 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts predict that L3Harris will post 9.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Tuesday, September 3rd. L3Harris’s dividend payout ratio (DPR) is presently 36.19%.

In other L3Harris news, Director Lewis Hay III purchased 9,800 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $203.34 per share, with a total value of $1,992,732.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas A. Dattilo purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $209.19 per share, with a total value of $209,190.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $418,380. The disclosure for this purchase can be found here. Over the last three months, insiders bought 11,800 shares of company stock valued at $2,402,722 and sold 511,068 shares valued at $108,033,097. Corporate insiders own 1.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new stake in L3Harris in the second quarter worth $70,474,000. Marshall Wace LLP purchased a new stake in L3Harris in the second quarter worth $33,411,000. Panagora Asset Management Inc. purchased a new stake in L3Harris in the second quarter worth $19,308,000. Public Employees Retirement System of Ohio purchased a new stake in L3Harris in the second quarter worth $13,188,000. Finally, Glen Harbor Capital Management LLC purchased a new stake in L3Harris in the second quarter worth $9,092,000. 97.80% of the stock is owned by institutional investors and hedge funds.

About L3Harris

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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