L3Harris (NYSE:LHX) had its price objective increased by SunTrust Banks to $232.00 in a report issued on Thursday, The Fly reports. The firm currently has a buy rating on the stock.
LHX has been the topic of a number of other research reports. Goldman Sachs Group started coverage on shares of L3Harris in a research note on Tuesday, July 9th. They issued a buy rating and a $240.00 price objective on the stock. Vertical Research started coverage on shares of L3Harris in a research note on Wednesday, July 3rd. They issued a buy rating and a $204.70 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. L3Harris presently has an average rating of Buy and a consensus target price of $226.28.
L3Harris stock traded down $0.90 during mid-day trading on Thursday, reaching $203.52. 16,965 shares of the company traded hands, compared to its average volume of 1,412,661. The company has a current ratio of 1.42, a quick ratio of 1.15 and a debt-to-equity ratio of 0.95. L3Harris has a fifty-two week low of $123.24 and a fifty-two week high of $211.82. The firm has a market capitalization of $24.15 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.84 and a beta of 0.95.
L3Harris (NYSE:LHX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.14. L3Harris had a net margin of 13.95% and a return on equity of 29.27%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $4.31 billion. L3Harris’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 EPS. On average, sell-side analysts predict that L3Harris will post 8.99 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in LHX. Lindbrook Capital LLC purchased a new position in L3Harris in the second quarter worth approximately $25,000. Financial Gravity Wealth Inc. purchased a new position in L3Harris in the 2nd quarter valued at about $74,000. Municipal Employees Retirement System of Michigan purchased a new position in L3Harris in the 2nd quarter valued at about $306,000. Somerset Trust Co purchased a new position in L3Harris in the 2nd quarter valued at about $1,209,000. Finally, Tocqueville Asset Management L.P. purchased a new position in L3Harris in the 2nd quarter valued at about $1,094,000. Institutional investors and hedge funds own 95.82% of the company’s stock.
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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