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

L3Harris Technologies (NYSE:LHX) had its price target trimmed by JPMorgan Chase & Co. from $265.00 to $255.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Wells Fargo & Company reduced their price target 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. Truist Financial reduced their price target on L3Harris Technologies from $283.00 to $274.00 and set a “buy” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft reduced their price target on L3Harris Technologies from $250.00 to $229.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Raymond James downgraded L3Harris Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein raised L3Harris Technologies from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $289.00 to $267.00 in a research report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $265.87.

L3Harris Technologies Price Performance

L3Harris Technologies stock opened at $211.99 on Friday. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. The stock’s 50 day moving average is $220.51 and its 200-day moving average is $232.21. The company has a current ratio of 1.04, a quick ratio of 0.87 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $40.21 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.69 and a beta of 0.75.

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

Insider Activity

In related news, insider Ross Niebergall sold 1,764 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $223.62, for a total value of $394,465.68. Following the completion of the sale, the insider now directly owns 8,576 shares in the company, valued at $1,917,765.12. This represents a 17.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 4,901 shares of company stock worth $1,059,757. Insiders own 0.82% of the company’s stock.

Institutional Trading of L3Harris Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LHX. Archer Investment Corp grew its holdings in L3Harris Technologies by 48.9% during the 3rd quarter. Archer Investment Corp now owns 131 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares during the period. Roxbury Financial LLC acquired a new stake in L3Harris Technologies during the 4th quarter worth about $30,000. Kennebec Savings Bank acquired a new stake in L3Harris Technologies during the 3rd quarter worth about $36,000. Union Bancaire Privee UBP SA acquired a new stake in L3Harris Technologies during the 4th quarter worth about $33,000. Finally, New Millennium Group LLC grew its holdings in L3Harris Technologies by 776.2% during the 4th quarter. New Millennium Group LLC now owns 184 shares of the company’s stock worth $39,000 after acquiring an additional 163 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

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.