L3Harris Technologies (NYSE:LHX) Price Target Raised to $238.00 at Morgan Stanley

L3Harris Technologies (NYSE:LHX) had its price target raised by Morgan Stanley from $226.00 to $238.00 in a research note published on Monday, Analyst Ratings Network reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research analysts also recently commented on the company. Credit Suisse Group raised their target price on L3Harris Technologies from $200.00 to $223.00 and gave the stock an outperform rating in a research note on Monday, April 19th. Benchmark restated a hold rating on shares of L3Harris Technologies in a research note on Monday. Jefferies Financial Group lifted their price target on L3Harris Technologies from $235.00 to $250.00 and gave the company a buy rating in a research report on Monday. Citigroup dropped their target price on L3Harris Technologies from $235.00 to $225.00 and set a buy rating for the company in a research report on Monday, February 1st. Finally, The Goldman Sachs Group restated a neutral rating and issued a $208.00 target price on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $226.21.

Shares of LHX opened at $211.74 on Monday. The business has a 50-day moving average of $204.51 and a 200 day moving average of $189.69. L3Harris Technologies has a fifty-two week low of $158.09 and a fifty-two week high of $213.00. The firm has a market cap of $43.53 billion, a P/E ratio of 35.06, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.18 and a current ratio of 1.37.

L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, April 30th. The company reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.26. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same quarter last year, the firm posted $2.80 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts predict that L3Harris Technologies will post 11.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Tuesday, June 1st will be given a dividend of $1.02 per share. The ex-dividend date is Friday, May 28th. This represents a $4.08 annualized dividend and a dividend yield of 1.93%. L3Harris Technologies’s dividend payout ratio is presently 40.48%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Ameritrade Investment Management LLC bought a new stake in shares of L3Harris Technologies during the fourth quarter valued at approximately $25,000. Wealthcare Capital Management LLC bought a new stake in shares of L3Harris Technologies during the first quarter valued at approximately $29,000. Piscataqua Savings Bank bought a new stake in L3Harris Technologies in the first quarter worth $30,000. Exchange Traded Concepts LLC bought a new stake in L3Harris Technologies in the fourth quarter worth $30,000. Finally, DB Wealth Management Group LLC bought a new stake in L3Harris Technologies in the fourth quarter worth $32,000. Institutional investors own 80.58% of the company’s stock.

L3Harris Technologies Company Profile

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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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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