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

L3Harris Technologies (NYSE:LHX) had its price target trimmed by 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.

Several other research analysts have also issued reports on LHX. Deutsche Bank Aktiengesellschaft lowered their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Wolfe Research upgraded shares of L3Harris Technologies from a “peer perform” rating to an “outperform” rating and set a $300.00 target price on the stock in a report on Thursday, October 10th. Susquehanna decreased their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Argus raised L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research note on Tuesday, November 26th. Finally, Bank of America upgraded L3Harris Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $240.00 to $300.00 in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.19.

L3Harris Technologies Trading Down 0.1 %

LHX opened at $218.22 on Thursday. 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 has a fifty-two week low of $200.18 and a fifty-two week high of $265.74. The company’s 50 day moving average price is $227.28 and its two-hundred day moving average price is $232.97. The firm has a market capitalization of $41.39 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 1.68 and a beta of 0.75.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 24th. The company reported $3.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.07. The business had revenue of $5.29 billion during 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%. L3Harris Technologies’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.19 earnings per share. As a group, research analysts predict 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 on Monday, December 30th. The stock was sold at an average price of $210.06, for a total transaction of $288,412.38. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 7,889 shares of company stock worth $1,800,572 in the last quarter. Insiders own 0.87% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Archer Investment Corp grew its position in L3Harris Technologies by 48.9% in the 3rd 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. Kennebec Savings Bank purchased a new position in shares of L3Harris Technologies in the 3rd quarter worth approximately $36,000. Trust Co. of Vermont grew its holdings in shares of L3Harris Technologies by 78.9% in the fourth quarter. Trust Co. of Vermont now owns 195 shares of the company’s stock valued at $41,000 after acquiring an additional 86 shares in the last quarter. MCF Advisors LLC increased its position in shares of L3Harris Technologies by 84.0% during the fourth quarter. MCF Advisors LLC now owns 241 shares of the company’s stock valued at $51,000 after acquiring an additional 110 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in L3Harris Technologies during the third quarter worth $64,000. Hedge funds and other institutional investors 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.