Credit Suisse Group Raises L3Harris (NYSE:LHX) Price Target to $236.00

L3Harris (NYSE:LHX) had its price target lifted by Credit Suisse Group from $220.00 to $236.00 in a research note issued to investors on Thursday, The Fly reports. They currently have an outperform rating on the stock.

LHX has been the subject of a number of other research reports. SunTrust Banks boosted their price target on L3Harris to $232.00 and gave the company a buy rating in a research note on Thursday. Vertical Research began 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. Finally, Goldman Sachs Group began coverage on L3Harris in a research note on Tuesday, July 9th. They issued a buy rating and a $240.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $226.28.

Shares of L3Harris stock traded down $0.43 during trading on Thursday, reaching $204.42. The company’s stock had a trading volume of 1,228,939 shares, compared to its average volume of 1,412,661. The stock has a market cap of $24.20 billion, a PE ratio of 24.66, a PEG ratio of 2.85 and a beta of 0.95. L3Harris has a 52 week low of $123.24 and a 52 week high of $211.82. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.15 and a current ratio of 1.42.

L3Harris (NYSE:LHX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.14. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $1.78 earnings per share. Equities research analysts predict that L3Harris will post 8.99 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC acquired a new position in L3Harris during the second quarter worth about $25,000. Financial Gravity Wealth Inc. acquired a new position in L3Harris during the second quarter worth about $74,000. Municipal Employees Retirement System of Michigan acquired a new position in L3Harris during the second quarter worth about $306,000. Tocqueville Asset Management L.P. acquired a new position in L3Harris during the second quarter worth about $1,094,000. Finally, Somerset Trust Co acquired a new position in L3Harris during the second quarter worth about $1,209,000. 96.57% 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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Analyst Recommendations for L3Harris (NYSE:LHX)

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