Analysts at Sanford C. Bernstein started coverage on shares of L3Harris (NYSE:LHX) in a research note issued to investors on Tuesday, The Fly reports. The firm set an “outperform” rating and a $247.00 price target on the stock. Sanford C. Bernstein’s price objective indicates a potential upside of 27.57% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. UBS Group set a $225.00 target price on L3Harris and gave the company a “hold” rating in a research report on Friday, November 1st. Cowen restated a “buy” rating and issued a $210.00 price objective on shares of L3Harris in a report on Wednesday, October 30th. ValuEngine cut shares of L3Harris from a “sell” rating to a “strong sell” rating in a research note on Saturday. Alembic Global Advisors initiated coverage on shares of L3Harris in a report on Monday, November 18th. They set an “overweight” rating and a $235.00 target price for the company. Finally, Zacks Investment Research upgraded shares of L3Harris from a “hold” rating to a “buy” rating and set a $219.00 target price for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $236.62.
LHX stock opened at $193.62 on Tuesday. L3Harris has a 52 week low of $123.24 and a 52 week high of $217.31. The company has a quick ratio of 1.21, a current ratio of 1.49 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $199.09. The stock has a market capitalization of $42.55 billion, a PE ratio of 23.36, a P/E/G ratio of 2.41 and a beta of 0.88.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp acquired a new position in shares of L3Harris during the 3rd quarter valued at about $1,949,311,000. Massachusetts Financial Services Co. MA acquired a new stake in L3Harris during the third quarter worth about $446,171,000. California Public Employees Retirement System acquired a new stake in L3Harris during the third quarter worth about $371,059,000. Millennium Management LLC acquired a new stake in L3Harris during the third quarter worth about $287,551,000. Finally, Boston Partners purchased a new position in L3Harris during the third quarter worth about $274,375,000. Institutional investors and hedge funds own 82.62% of the company’s stock.
L3Harris Company Profile
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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