L3Harris Technologies (NYSE:LHX) was downgraded by investment analysts at TheStreet from a "b" rating to a "c" rating in a research report issued on Friday, TheStreetRatingsTable reports.
Other equities analysts have also issued reports about the company. The Goldman Sachs Group restated a "neutral" rating and set a $208.00 target price on shares of L3Harris Technologies in a research report on Wednesday, April 14th. Credit Suisse Group lifted their price target on shares of L3Harris Technologies from $200.00 to $223.00 and gave the stock an "outperform" rating in a research report on Monday, April 19th. Morgan Stanley upped their price objective on shares of L3Harris Technologies from $226.00 to $238.00 and gave the company an "overweight" rating in a research report on Monday. Robert W. Baird downgraded L3Harris Technologies from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $242.00 to $210.00 in a report on Thursday, January 7th. Finally, Cowen reiterated a "buy" rating and issued a $210.00 price objective on shares of L3Harris Technologies in a research report on Friday, February 5th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. The company has a consensus rating of "Buy" and an average price target of $226.21.
Shares of LHX stock opened at $211.74 on Friday. The firm has a market cap of $43.53 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 0.96 and a beta of 0.80. L3Harris Technologies has a 12 month low of $158.09 and a 12 month high of $213.00. The company has a quick ratio of 1.18, a current ratio of 1.37 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $204.51 and a 200 day moving average price of $189.69.
L3Harris Technologies (NYSE:LHX) last announced its quarterly earnings data on Friday, April 30th. The company reported $3.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.92 by $0.26. The firm had revenue of $4.57 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $2.80 earnings per share. Sell-side analysts predict that L3Harris Technologies will post 11.55 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC lifted its position in shares of L3Harris Technologies by 9,581.3% during the 4th quarter. Kestra Advisory Services LLC now owns 7,261 shares of the company's stock worth $1,363,000 after buying an additional 7,186 shares during the last quarter. Narwhal Capital Management lifted its holdings in shares of L3Harris Technologies by 27.8% in the fourth quarter. Narwhal Capital Management now owns 48,341 shares of the company's stock worth $9,137,000 after acquiring an additional 10,522 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of L3Harris Technologies by 465.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 42,420 shares of the company's stock valued at $8,018,000 after purchasing an additional 34,920 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of L3Harris Technologies during the 4th quarter valued at approximately $30,000. Finally, Bahl & Gaynor Inc. increased its position in L3Harris Technologies by 34.6% during the 4th quarter. Bahl & Gaynor Inc. now owns 196,106 shares of the company's stock worth $37,068,000 after purchasing an additional 50,437 shares in the last quarter. 80.58% of the stock is currently owned by hedge funds and other institutional investors.
About L3Harris Technologies
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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