L3Harris (NYSE:LHX) Receives New Coverage from Analysts at Sanford C. Bernstein

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.

L3Harris (NYSE:LHX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.19. L3Harris had a return on equity of 16.42% and a net margin of 12.02%. The company had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.43 billion. L3Harris’s revenue was up 187.4% on a year-over-year basis. On average, equities research analysts expect that L3Harris will post 10 earnings per share for the current year.

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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Analyst Recommendations for L3Harris (NYSE:LHX)

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