L3Harris Technologies (NYSE:LHX) PT Raised to $250.00 at Jefferies Financial Group


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L3Harris Technologies (NYSE:LHX) had its target price increased by stock analysts at Jefferies Financial Group from $235.00 to $250.00 in a report issued on Monday, Price Targets.com reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 15.53% from the stock’s current price.

A number of other brokerages also recently weighed in on LHX. Robert W. Baird downgraded shares of L3Harris Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $242.00 to $210.00 in a research report on Thursday, January 7th. The Goldman Sachs Group restated a “neutral” rating and set a $208.00 price objective on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Credit Suisse Group upped their target price on shares of L3Harris Technologies from $200.00 to $223.00 and gave the company an “outperform” rating in a report on Monday, April 19th. Citigroup reduced their target price on shares of L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating for the company in a report on Monday, February 1st. Finally, Cowen reaffirmed a “buy” rating and set a $210.00 target price on shares of L3Harris Technologies in a report on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $226.21.

Shares of NYSE LHX opened at $216.40 on Monday. The firm’s 50 day moving average price is $204.90 and its 200-day moving average price is $189.88. The company has a market cap of $44.48 billion, a PE ratio of 35.83, a P/E/G ratio of 0.96 and a beta of 0.80. L3Harris Technologies has a 52-week low of $158.09 and a 52-week high of $216.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.18 and a current ratio of 1.37.

L3Harris Technologies (NYSE:LHX) last issued its earnings results on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.26. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.62 billion. L3Harris Technologies had a net margin of 7.18% and a return on equity of 11.29%. The business’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 earnings per share. On average, analysts forecast that L3Harris Technologies will post 11.55 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. TD Ameritrade Investment Management LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at $25,000. Wealthcare Capital Management LLC purchased a new position in L3Harris Technologies during the first quarter valued at $29,000. Piscataqua Savings Bank purchased a new position in L3Harris Technologies during the first quarter valued at $30,000. Exchange Traded Concepts LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at $30,000. Finally, DB Wealth Management Group LLC purchased a new position in L3Harris Technologies during the fourth quarter valued at $32,000. 80.58% of the stock is owned by hedge funds and other institutional investors.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc engages in the provision of defense and commercial technologies across 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.

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Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

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