L3Harris (NYSE:LHX) Receives Average Rating of “Buy” from Analysts

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L3Harris (NYSE:LHX) has earned an average recommendation of “Buy” from the twenty analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eighteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $245.83.

A number of equities analysts recently issued reports on the company. Benchmark assumed coverage on L3Harris in a report on Friday, February 7th. They issued a “buy” rating and a $280.00 price target for the company. UBS Group upped their price target on L3Harris from $225.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Robert W. Baird upped their price target on L3Harris from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, February 5th. Alembic Global Advisors assumed coverage on L3Harris in a report on Monday, November 18th. They issued an “overweight” rating and a $235.00 price target for the company. Finally, Cfra upped their price target on L3Harris from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, February 4th.

In other news, SVP Scott T. Mikuen sold 15,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $210.51, for a total value of $3,157,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William M. Brown sold 65,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $228.63, for a total value of $14,860,950.00. Following the completion of the sale, the chief executive officer now directly owns 432,443 shares of the company’s stock, valued at $98,869,443.09. The disclosure for this sale can be found here. Insiders sold 120,530 shares of company stock valued at $27,148,116 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of LHX. Squar Milner Financial Services LLC raised its stake in shares of L3Harris by 500.0% during the third quarter. Squar Milner Financial Services LLC now owns 120 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of L3Harris during the fourth quarter worth approximately $25,000. Virtus ETF Advisers LLC purchased a new stake in shares of L3Harris during the fourth quarter worth approximately $25,000. Corbenic Partners LLC purchased a new stake in shares of L3Harris during the fourth quarter worth approximately $26,000. Finally, D Orazio & Associates Inc. purchased a new stake in shares of L3Harris during the third quarter worth approximately $27,000. 82.74% of the stock is owned by institutional investors and hedge funds.

Shares of LHX opened at $228.55 on Monday. The stock has a 50 day moving average price of $216.58 and a 200 day moving average price of $207.69. L3Harris has a 52-week low of $156.90 and a 52-week high of $230.99.

L3Harris (NYSE:LHX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.07. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.82 billion. The business’s revenue for the quarter was up 190.0% compared to the same quarter last year. During the same period last year, the company earned $1.96 earnings per share. On average, sell-side analysts predict that L3Harris will post 11.61 EPS for the current fiscal year.

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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