L3Harris Technologies (NYSE:LHX) Given New $255.00 Price Target at JPMorgan Chase & Co.

L3Harris Technologies (NYSE:LHX) had its price objective lowered by JPMorgan Chase & Co. from $265.00 to $255.00 in a research report report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also issued reports on the stock. UBS Group lifted their price objective on shares of L3Harris Technologies from $228.00 to $237.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $240.00 price objective on shares of L3Harris Technologies in a report on Friday. Truist Financial decreased their price objective on shares of L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company dropped their target price on L3Harris Technologies from $295.00 to $287.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th. Finally, Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $240.00 to $300.00 in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $265.87.

L3Harris Technologies Stock Down 0.0 %

Shares of NYSE:LHX opened at $211.99 on Friday. The stock has a 50-day simple moving average of $220.51 and a 200-day simple moving average of $232.27. The stock has a market capitalization of $40.21 billion, a P/E ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75. L3Harris Technologies has a 1 year low of $200.18 and a 1 year high of $265.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 30th. The company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.04. L3Harris Technologies had a net margin of 5.71% and a return on equity of 13.11%. Equities analysts forecast that L3Harris Technologies will post 13.07 earnings per share for the current year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $210.06, for a total value of $288,412.38. Following the sale, the insider now directly owns 5,049 shares in the company, valued at approximately $1,060,592.94. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 7,889 shares of company stock worth $1,800,572 over the last ninety days. Company insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

Large investors have recently modified their holdings of the company. OneDigital Investment Advisors LLC increased its stake in shares of L3Harris Technologies by 0.5% in the third quarter. OneDigital Investment Advisors LLC now owns 7,915 shares of the company’s stock valued at $1,883,000 after purchasing an additional 40 shares during the period. Koshinski Asset Management Inc. increased its position in L3Harris Technologies by 2.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 1,620 shares of the company’s stock valued at $385,000 after acquiring an additional 42 shares during the period. Blossom Wealth Management raised its stake in L3Harris Technologies by 1.7% during the 3rd quarter. Blossom Wealth Management now owns 2,538 shares of the company’s stock valued at $604,000 after acquiring an additional 43 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in L3Harris Technologies by 3.3% during the 3rd quarter. Nicholas Hoffman & Company LLC. now owns 1,353 shares of the company’s stock worth $322,000 after acquiring an additional 43 shares during the period. Finally, Archer Investment Corp grew its stake in shares of L3Harris Technologies by 48.9% in the third quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

About L3Harris Technologies

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.