JPMorgan Chase & Co. Lowers L3Harris Technologies (NYSE:LHX) Price Target to $265.00

L3Harris Technologies (NYSE:LHX) had its price target cut by analysts at JPMorgan Chase & Co. from $270.00 to $265.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 21.44% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Barclays decreased their price target on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada raised their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. StockNews.com upgraded shares of L3Harris Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Sanford C. Bernstein upgraded L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $289.00 to $267.00 in a report on Wednesday, January 8th. Finally, Wolfe Research upgraded L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 price target on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, L3Harris Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $266.19.

L3Harris Technologies Stock Down 0.1 %

NYSE LHX opened at $218.22 on Thursday. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a market capitalization of $41.39 billion, a P/E ratio of 34.47, a PEG ratio of 1.68 and a beta of 0.75. The company’s 50 day simple moving average is $228.12 and its 200 day simple moving average is $232.99. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 0.87.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings results on Thursday, October 24th. The company reported $3.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.07. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations 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 was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.19 earnings per share. Equities research analysts expect that L3Harris Technologies will post 13.07 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 2,988 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $247.93, for a total transaction of $740,814.84. Following the transaction, the insider now owns 10,340 shares of the company’s stock, valued at approximately $2,563,596.20. This represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 7,889 shares of company stock worth $1,800,572 over the last three months. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On L3Harris Technologies

Large investors have recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. boosted its holdings in shares of L3Harris Technologies by 33.9% during the 4th quarter. Raleigh Capital Management Inc. now owns 1,594 shares of the company’s stock worth $335,000 after buying an additional 404 shares during the period. Mutual Advisors LLC boosted its holdings in L3Harris Technologies by 2.8% during the fourth quarter. Mutual Advisors LLC now owns 4,518 shares of the company’s stock valued at $987,000 after acquiring an additional 123 shares during the period. Asset Planning Services Inc. LA ADV boosted its holdings in L3Harris Technologies by 2.2% during the fourth quarter. Asset Planning Services Inc. LA ADV now owns 23,270 shares of the company’s stock valued at $4,893,000 after acquiring an additional 500 shares during the period. Traynor Capital Management Inc. increased its stake in shares of L3Harris Technologies by 17.1% in the fourth quarter. Traynor Capital Management Inc. now owns 39,874 shares of the company’s stock worth $8,385,000 after purchasing an additional 5,825 shares during the period. Finally, Wesbanco Bank Inc. increased its stake in shares of L3Harris Technologies by 13.1% in the fourth quarter. Wesbanco Bank Inc. now owns 7,675 shares of the company’s stock worth $1,614,000 after purchasing an additional 891 shares during the period. Institutional investors 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.