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

L3Harris Technologies (NYSE:LHX) had its price target lowered by JPMorgan Chase & Co. from $270.00 to $265.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts also recently weighed in on the company. Wolfe Research raised L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research report on Thursday, October 10th. Raymond James cut shares of L3Harris Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, January 2nd. Susquehanna reduced their target price on shares of L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Barclays dropped their price target on shares of L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Truist Financial reduced their price objective on L3Harris Technologies from $300.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $266.19.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $218.26 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.04. The company has a market capitalization of $41.40 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The company’s 50 day simple moving average is $228.85 and its 200-day simple moving average is $233.10. L3Harris Technologies has a 1 year low of $200.18 and a 1 year high of $265.74.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings results on Thursday, October 24th. The company reported $3.34 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.07. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The company had revenue of $5.29 billion for the quarter, compared to analysts’ expectations of $5.28 billion. During the same period in the prior year, the firm earned $3.19 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, equities research analysts expect that L3Harris Technologies will post 13.07 earnings per share for the current year.

Insider Buying and Selling

In other L3Harris Technologies news, insider Ross Niebergall sold 1,373 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $210.06, for a total transaction of $288,412.38. Following the sale, the insider now owns 5,049 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, 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 90 days. 0.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Archer Investment Corp boosted its stake in L3Harris Technologies by 48.9% in 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 in the last quarter. Kennebec Savings Bank purchased a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $36,000. Trust Co. of Vermont boosted its position in shares of 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 period. Ashton Thomas Securities LLC purchased a new position in L3Harris Technologies during the 3rd quarter worth approximately $64,000. Finally, Armstrong Advisory Group Inc. grew its stake in L3Harris Technologies by 1,660.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company’s stock worth $74,000 after buying an additional 332 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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.