L3Harris Technologies (NYSE:LHX) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of L3Harris Technologies (NYSE:LHX – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.

A number of other research firms also recently weighed in on LHX. Morgan Stanley dropped their price target on shares of L3Harris Technologies from $278.00 to $264.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. JPMorgan Chase & Co. cut their price target on L3Harris Technologies from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Monday, December 12th. Susquehanna lifted their price objective on L3Harris Technologies from $265.00 to $270.00 and gave the stock a “positive” rating in a research note on Monday, January 30th. Cowen reduced their target price on L3Harris Technologies from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Thursday, January 12th. Finally, Citigroup began coverage on L3Harris Technologies in a report on Thursday, December 8th. They set a “neutral” rating and a $250.00 target price on the stock. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, L3Harris Technologies has a consensus rating of “Hold” and an average target price of $259.46.

L3Harris Technologies Price Performance

LHX opened at $200.78 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.17 and a quick ratio of 0.95. The stock has a market capitalization of $38.17 billion, a P/E ratio of 36.71, a price-to-earnings-growth ratio of 6.40 and a beta of 0.71. The company’s 50 day simple moving average is $206.66 and its 200-day simple moving average is $218.53. L3Harris Technologies has a one year low of $189.73 and a one year high of $264.71.

L3Harris Technologies (NYSE:LHX – Get Rating) last released its earnings results on Friday, January 27th. The company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.21 by $0.06. L3Harris Technologies had a return on equity of 13.20% and a net margin of 6.22%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the firm earned $3.30 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that L3Harris Technologies will post 12.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On L3Harris Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of LHX. BlackRock Inc. raised its position in L3Harris Technologies by 15.1% in the 3rd quarter. BlackRock Inc. now owns 14,314,799 shares of the company’s stock valued at $2,975,043,000 after buying an additional 1,875,236 shares during the last quarter. Norges Bank acquired a new stake in L3Harris Technologies in the 4th quarter valued at approximately $342,413,000. Price T Rowe Associates Inc. MD raised its position in L3Harris Technologies by 17.4% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 9,758,276 shares of the company’s stock valued at $2,028,151,000 after buying an additional 1,448,364 shares during the last quarter. Cowa LLC acquired a new stake in L3Harris Technologies in the 1st quarter valued at approximately $26,000. Finally, CIBC Private Wealth Group LLC raised its position in L3Harris Technologies by 66.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,939,444 shares of the company’s stock valued at $403,812,000 after buying an additional 775,738 shares during the last quarter. Institutional investors and hedge funds own 82.18% of the company’s stock.

About L3Harris Technologies

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L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across the air, land, sea, space, and cyber domains. It operates through the following segments: Integrated Mission Systems, Space and Airborne Systems, Communication Systems, and Aviation Systems. The Integrated Mission Systems segment consists of multi-mission ISR and communication systems, integrated electrical and electronic systems for maritime platforms, and advanced electro-optical and infrared solutions.