L3Harris (NYSE:LHX) Coverage Initiated at Seaport Global Securities
Seaport Global Securities started coverage on shares of L3Harris (NYSE:LHX) in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. The firm issued a buy rating and a $225.00 price objective on the stock. Seaport Global Securities also issued estimates for L3Harris’ Q2 2020 earnings at $2.63 EPS, Q3 2020 earnings at $2.74 EPS, Q4 2020 earnings at $3.10 EPS, FY2020 earnings at $11.25 EPS, Q1 2021 earnings at $2.93 EPS, Q2 2021 earnings at $2.97 EPS, Q3 2021 earnings at $3.16 EPS, Q4 2021 earnings at $3.63 EPS and FY2021 earnings at $12.70 EPS.
A number of other equities analysts also recently commented on the stock. Barclays reiterated a buy rating and issued a $290.00 target price on shares of L3Harris in a report on Thursday, January 23rd. Zacks Investment Research downgraded shares of L3Harris from a buy rating to a hold rating and set a $184.00 price objective on the stock. in a report on Thursday, March 26th. Argus upped their price objective on shares of L3Harris from $230.00 to $255.00 and gave the company a buy rating in a report on Wednesday, February 12th. ValuEngine upgraded shares of L3Harris from a sell rating to a hold rating in a report on Monday, March 9th. Finally, Benchmark restated a buy rating and set a $260.00 price objective (down previously from $280.00) on shares of L3Harris in a report on Wednesday, May 13th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $239.80.
Shares of L3Harris stock opened at $180.45 on Tuesday. The company has a market capitalization of $39.75 billion, a PE ratio of 17.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.21 and a current ratio of 1.41. The company has a 50-day simple moving average of $186.73 and a two-hundred day simple moving average of $198.97. L3Harris has a one year low of $142.01 and a one year high of $230.99.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Tuesday, June 2nd will be issued a $0.85 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.40 annualized dividend and a yield of 1.88%. L3Harris’s dividend payout ratio (DPR) is presently 33.73%.
Large investors have recently modified their holdings of the stock. Aigen Investment Management LP purchased a new stake in L3Harris in the 4th quarter worth approximately $25,000. Virtus ETF Advisers LLC purchased a new stake in L3Harris in the 4th quarter worth approximately $25,000. Filbrandt Wealth Management LLC purchased a new stake in L3Harris in the 4th quarter worth approximately $25,000. NuWave Investment Management LLC purchased a new stake in L3Harris in the 1st quarter worth approximately $30,000. Finally, Prime Capital Investment Advisors LLC boosted its position in L3Harris by 40.0% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 161 shares of the company’s stock worth $32,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 84.80% 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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