L3Harris (NYSE:LHX) Price Target Raised to $235.00

L3Harris (NYSE:LHX) had its price objective upped by JPMorgan Chase & Co. from $210.00 to $235.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. UBS Group raised their target price on L3Harris from $200.00 to $210.00 and gave the company a neutral rating in a research report on Thursday. Credit Suisse Group raised their target price on L3Harris from $220.00 to $236.00 and gave the company an outperform rating in a research report on Thursday. Goldman Sachs Group started coverage on L3Harris in a research report on Tuesday, July 9th. They set a buy rating and a $240.00 target price on the stock. SunTrust Banks raised their target price on L3Harris to $232.00 and gave the company a buy rating in a research report on Thursday. Finally, Vertical Research started coverage on L3Harris in a research report on Wednesday, July 3rd. They set a buy rating and a $204.70 target price on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $226.28.

Shares of NYSE LHX traded down $1.08 during trading on Thursday, reaching $203.34. 25,869 shares of the company traded hands, compared to its average volume of 1,412,661. The firm has a market capitalization of $24.15 billion, a P/E ratio of 24.56, a PEG ratio of 2.84 and a beta of 0.95. L3Harris has a 12-month low of $123.24 and a 12-month 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 released its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 earnings per share 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 analyst estimates of $4.31 billion. L3Harris had a return on equity of 29.27% and a net margin of 13.95%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. As a group, analysts forecast that L3Harris will post 8.99 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Somerset Trust Co acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $1,209,000. Tocqueville Asset Management L.P. acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $1,094,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $306,000. Financial Gravity Wealth Inc. acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $74,000. Finally, Lindbrook Capital LLC acquired a new stake in shares of L3Harris during the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 95.82% of the company’s stock.

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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