SunTrust Banks Increases L3Harris (NYSE:LHX) Price Target to $232.00

L3Harris (NYSE:LHX) had its target price increased by SunTrust Banks to $232.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the stock. SunTrust Banks’ price objective would suggest a potential upside of 13.49% from the company’s previous close.

Several other brokerages have also recently commented on LHX. Goldman Sachs Group assumed coverage on L3Harris in a research report on Tuesday, July 9th. They set a “buy” rating and a $240.00 price target for the company. Vertical Research assumed coverage on L3Harris in a research report on Wednesday, July 3rd. They set a “buy” rating and a $204.70 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $226.28.

Shares of LHX stock traded down $0.43 on Thursday, hitting $204.42. 1,228,939 shares of the stock were exchanged, compared to its average volume of 1,320,954. 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 stock has a market capitalization of $24.52 billion, a P/E ratio of 24.66, a P/E/G ratio of 2.89 and a beta of 0.95. L3Harris has a fifty-two week low of $123.24 and a fifty-two week high of $211.82.

L3Harris (NYSE:LHX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.14. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $4.31 billion. L3Harris had a return on equity of 29.27% and a net margin of 13.95%. L3Harris’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Equities analysts expect that L3Harris will post 8.99 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC acquired a new position in L3Harris during the second quarter valued at approximately $25,000. Financial Gravity Wealth Inc. acquired a new position in L3Harris during the second quarter valued at approximately $74,000. Municipal Employees Retirement System of Michigan acquired a new position in L3Harris during the second quarter valued at approximately $306,000. Tocqueville Asset Management L.P. acquired a new position in L3Harris during the second quarter valued at approximately $1,094,000. Finally, Somerset Trust Co acquired a new position in L3Harris during the second quarter valued at approximately $1,209,000. 96.57% of the stock is owned by hedge funds and other institutional investors.

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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