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

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

A number of other analysts have also recently commented on LHX. Deutsche Bank Aktiengesellschaft dropped their price target on shares of L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research note 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 report on Wednesday, January 8th. Barclays decreased their price objective on L3Harris Technologies from $290.00 to $255.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Argus upgraded L3Harris Technologies from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday, November 26th. Finally, Susquehanna decreased their price target on L3Harris Technologies from $300.00 to $258.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.19.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $218.22 on Thursday. The business’s 50 day simple moving average is $227.28 and its 200 day simple moving average is $232.97. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 1.68 and a beta of 0.75. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58.

L3Harris Technologies (NYSE:LHX) last posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the company earned $3.19 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that L3Harris Technologies will post 13.07 EPS for the current year.

Insider Buying and Selling at L3Harris Technologies

In other news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 in the company, valued at approximately $1,917,765.12. This represents a 17.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 7,889 shares of company stock worth $1,800,572 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of L3Harris Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of LHX. JPMorgan Chase & Co. lifted its holdings in shares of L3Harris Technologies by 29.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 774,560 shares of the company’s stock worth $184,245,000 after acquiring an additional 178,407 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in L3Harris Technologies by 65.2% in the second quarter. The Manufacturers Life Insurance Company now owns 434,287 shares of the company’s stock worth $97,532,000 after purchasing an additional 171,420 shares during the last quarter. International Assets Investment Management LLC boosted its position in L3Harris Technologies by 23,627.0% during the third quarter. International Assets Investment Management LLC now owns 170,597 shares of the company’s stock valued at $40,580,000 after buying an additional 169,878 shares during the period. Mizuho Markets Americas LLC grew its stake in shares of L3Harris Technologies by 25.3% during the third quarter. Mizuho Markets Americas LLC now owns 822,736 shares of the company’s stock valued at $195,704,000 after buying an additional 166,262 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of L3Harris Technologies in the third quarter worth about $35,904,000. 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.