L3Harris Technologies (NYSE:LHX) Given New $265.00 Price Target at JPMorgan Chase & Co.

L3Harris Technologies (NYSE:LHX) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $270.00 to $265.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 23.81% from the company’s current price.

A number of other analysts have also recently commented on the company. Truist Financial lowered their price target on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Raymond James downgraded shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Finally, Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Stock Down 0.4 %

Shares of L3Harris Technologies stock opened at $214.03 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $40.60 billion, a P/E ratio of 33.81, a PEG ratio of 1.68 and a beta of 0.75. The firm’s 50 day moving average price is $229.70 and its 200-day moving average price is $233.23. L3Harris Technologies has a 52-week low of $200.18 and a 52-week high of $265.74.

L3Harris Technologies (NYSE:LHX) last announced its earnings results on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.07. The firm had revenue of $5.29 billion for the quarter, compared to the consensus estimate of $5.28 billion. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. On average, sell-side analysts predict that L3Harris Technologies will post 13.07 EPS for the current fiscal year.

Insider Activity at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $223.62, for a total transaction of $394,465.68. Following the transaction, the insider now directly owns 8,576 shares of the company’s stock, valued at $1,917,765.12. This trade represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Archer Investment Corp raised its holdings in shares of L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock valued at $31,000 after acquiring an additional 43 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies during the third quarter worth approximately $36,000. Trust Co. of Vermont raised its stake in L3Harris Technologies by 78.9% in the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after purchasing an additional 86 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in L3Harris Technologies in the 3rd quarter valued at $64,000. Finally, Armstrong Advisory Group Inc. lifted its holdings in L3Harris Technologies by 1,660.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock valued at $74,000 after purchasing an additional 332 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

L3Harris Technologies Company Profile

L3Harris Technologies, Inc provides mission-critical solutions for government and commercial customers worldwide. The company's Integrated Mission Systems segment provides intelligence, surveillance, and reconnaissance (ISR) systems, passive sensing and targeting, electronic attack, autonomy, power and communications, and networks and sensors, as well as advanced combat systems for air, land, and sea sectors.