L3Harris (NYSE:LHX) SVP Scott T. Mikuen sold 56,500 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $213.80, for a total value of $12,079,700.00.
LHX stock opened at $207.82 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.98 and a debt-to-equity ratio of 0.82. L3Harris has a 1 year low of $123.24 and a 1 year high of $216.65. The stock has a market cap of $46.58 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.80 and a beta of 0.94. The business has a fifty day moving average price of $208.73.
L3Harris (NYSE:LHX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.14. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $4.31 billion. L3Harris had a return on equity of 29.39% and a net margin of 13.95%. L3Harris’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. Sell-side analysts expect that L3Harris will post 9.32 earnings per share for the current year.
Several equities research analysts recently commented on LHX shares. UBS Group lifted their price objective on L3Harris from $200.00 to $210.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of L3Harris from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of L3Harris from $210.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Vertical Research assumed coverage on shares of L3Harris in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $204.70 price target for the company. Finally, Buckingham Research lifted their price target on shares of L3Harris from $197.00 to $237.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. L3Harris has an average rating of “Buy” and an average target price of $235.47.
Several institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC bought a new stake in shares of L3Harris during the 2nd quarter valued at about $25,000. Dougherty Wealth Advisers LLC purchased a new stake in shares of L3Harris during the 2nd quarter valued at about $31,000. Financial Gravity Wealth Inc. bought a new position in shares of L3Harris in the 2nd quarter worth approximately $74,000. Parallel Advisors LLC bought a new position in shares of L3Harris in the 2nd quarter worth approximately $100,000. Finally, Nicholas Hoffman & Company LLC. bought a new position in shares of L3Harris in the 2nd quarter worth approximately $228,000. Institutional investors and hedge funds own 97.80% of the company’s stock.
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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