L3Harris Technologies (NYSE:LHX) PT Raised to $223.00

L3Harris Technologies (NYSE:LHX) had its price target upped by investment analysts at Credit Suisse Group from $200.00 to $223.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Credit Suisse Group’s price objective would suggest a potential upside of 6.09% from the stock’s current price.

A number of other research analysts have also recently weighed in on LHX. Citigroup lowered their price objective on L3Harris Technologies from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, February 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $208.00 price objective on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Morgan Stanley lowered their price objective on L3Harris Technologies from $235.00 to $226.00 and set an “overweight” rating on the stock in a research report on Monday, February 8th. Robert W. Baird downgraded L3Harris Technologies from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $242.00 to $210.00 in a research note on Thursday, January 7th. Finally, Cowen reissued a “buy” rating and set a $210.00 target price on shares of L3Harris Technologies in a research note on Friday, February 5th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $223.46.

Shares of LHX opened at $210.20 on Monday. The business’s 50-day moving average price is $198.92 and its 200-day moving average price is $187.45. L3Harris Technologies has a twelve month low of $158.09 and a twelve month high of $212.00. The stock has a market cap of $43.21 billion, a PE ratio of 34.80, a P/E/G ratio of 0.96 and a beta of 0.80. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 28th. The company reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.05. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.89 billion. L3Harris Technologies had a return on equity of 11.29% and a net margin of 7.18%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.85 earnings per share. Analysts expect that L3Harris Technologies will post 11.55 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. TD Ameritrade Investment Management LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $25,000. Exchange Traded Concepts LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $30,000. Piscataqua Savings Bank bought a new position in shares of L3Harris Technologies during the 1st quarter valued at approximately $30,000. DB Wealth Management Group LLC bought a new position in shares of L3Harris Technologies during the 4th quarter valued at approximately $32,000. Finally, Sage Private Wealth Group LLC purchased a new position in L3Harris Technologies during the 4th quarter valued at $35,000. 80.58% of the stock is currently owned by institutional investors and hedge funds.

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.

Read More: The limitations of an equal weight rating

Analyst Recommendations for L3Harris Technologies (NYSE:LHX)

Receive News & Ratings for L3Harris Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L3Harris Technologies and related companies with MarketBeat.com's FREE daily email newsletter.