Analysts’ Recent Ratings Changes for L3Harris (LHX)

L3Harris (NYSE: LHX) has recently received a number of price target changes and ratings updates:

  • 8/9/2019 – L3Harris was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $232.00 price target on the stock. According to Zacks, “L3Harris Technologies Inc. is an agile aerospace and defense technology innovator, delivering end-to-end solutions. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris Technologies Inc., formerly known as Harris Corporation, is based in Melbourne, United States. “
  • 8/8/2019 – L3Harris had its price target raised by analysts at Buckingham Research from $197.00 to $237.00. They now have a “buy” rating on the stock.
  • 8/7/2019 – L3Harris was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “L3Harris Technologies Inc. is an agile aerospace and defense technology innovator, delivering end-to-end solutions. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris Technologies Inc., formerly known as Harris Corporation, is based in Melbourne, United States. “
  • 8/6/2019 – L3Harris is now covered by analysts at Morgan Stanley. They set an “overweight” rating and a $259.00 price target on the stock.
  • 8/6/2019 – L3Harris was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/2/2019 – L3Harris was given a new $265.00 price target on by analysts at Barclays PLC. They now have a “buy” rating on the stock.
  • 8/1/2019 – L3Harris had its price target raised by analysts at JPMorgan Chase & Co. from $210.00 to $235.00. They now have an “overweight” rating on the stock.
  • 8/1/2019 – L3Harris had its price target raised by analysts at Credit Suisse Group AG from $220.00 to $236.00. They now have an “outperform” rating on the stock.
  • 8/1/2019 – L3Harris had its price target raised by analysts at UBS Group AG from $200.00 to $210.00. They now have a “neutral” rating on the stock.
  • 8/1/2019 – L3Harris had its price target raised by analysts at SunTrust Banks, Inc. to $232.00. They now have a “buy” rating on the stock.
  • 7/19/2019 – L3Harris is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $220.00 price target on the stock.
  • 7/9/2019 – L3Harris is now covered by analysts at Goldman Sachs Group Inc. They set a “buy” rating and a $240.00 price target on the stock.
  • 7/3/2019 – L3Harris is now covered by analysts at Vertical Research. They set a “buy” rating and a $204.70 price target on the stock.

Shares of LHX traded down $2.80 on Friday, reaching $210.51. The company’s stock had a trading volume of 48,343 shares, compared to its average volume of 1,485,833. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.42 and a quick ratio of 1.15. L3Harris has a twelve month low of $123.24 and a twelve month high of $215.36. The firm has a market capitalization of $46.67 billion, a PE ratio of 25.39, a P/E/G ratio of 2.76 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, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.14. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $4.31 billion. L3Harris had a net margin of 13.95% and a return on equity of 29.27%. L3Harris’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. As a group, analysts expect that L3Harris will post 9.62 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, September 3rd. L3Harris’s payout ratio is 33.05%.

In related news, Director Lewis Hay III acquired 9,800 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $203.34 per share, with a total value of $1,992,732.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.51% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LHX. Marshall Wace North America L.P. purchased a new stake in shares of L3Harris in the second quarter worth $70,474,000. Marshall Wace LLP purchased a new stake in shares of L3Harris in the second quarter valued at $33,411,000. Panagora Asset Management Inc. purchased a new stake in shares of L3Harris in the second quarter valued at $19,308,000. Public Employees Retirement System of Ohio purchased a new stake in shares of L3Harris in the second quarter valued at $13,188,000. Finally, Glen Harbor Capital Management LLC purchased a new stake in shares of L3Harris in the second quarter valued at $9,092,000. 97.80% of the stock is owned by hedge funds and other institutional investors.

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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