JPMorgan Chase & Co. Has Lowered Expectations for L3Harris Technologies (NYSE:LHX) Stock Price

L3Harris Technologies (NYSE:LHX - Get Free Report) had its price target decreased by analysts at JPMorgan Chase & Co. from $270.00 to $265.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 21.41% from the stock's previous close.

Several other research analysts have also recently commented on LHX. Barclays reduced their target price 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. Raymond James downgraded shares of L3Harris Technologies from an "outperform" rating to a "market perform" rating in a report on Thursday, January 2nd. Royal Bank of Canada upped their target price on shares of L3Harris Technologies from $240.00 to $265.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. Bank of America upgraded shares of L3Harris Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $240.00 to $300.00 in a research note on Thursday, October 31st. Finally, StockNews.com raised L3Harris Technologies from a "hold" rating to a "buy" rating in a report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $266.19.

L3Harris Technologies Stock Up 1.9 %

NYSE LHX traded up $4.12 during trading on Thursday, hitting $218.26. 1,057,921 shares of the company traded hands, compared to its average volume of 1,195,791. L3Harris Technologies has a 12 month low of $200.18 and a 12 month high of $265.74. 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 $41.40 billion, a P/E ratio of 34.48, a PEG ratio of 1.68 and a beta of 0.75. The business has a fifty day simple moving average of $228.85 and a 200 day simple moving average of $233.10.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued 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. L3Harris Technologies had a return on equity of 13.11% and a net margin of 5.71%. The firm had revenue of $5.29 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that L3Harris Technologies will post 13.07 EPS for the current year.

Insider Buying and Selling at L3Harris Technologies

In other L3Harris Technologies news, insider Ross Niebergall sold 2,988 shares of L3Harris Technologies 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 directly owns 10,340 shares in the company, valued at approximately $2,563,596.20. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 7,889 shares of company stock valued at $1,800,572. 0.87% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of large investors have recently bought and sold shares of LHX. Archer Investment Corp boosted its holdings in L3Harris Technologies by 48.9% during the third quarter. Archer Investment Corp now owns 131 shares of the company's stock worth $31,000 after purchasing an additional 43 shares during the last quarter. Kennebec Savings Bank bought a new stake in L3Harris Technologies during the 3rd quarter worth about $36,000. Trust Co. of Vermont boosted its stake in shares of L3Harris Technologies by 78.9% during the 4th quarter. Trust Co. of Vermont now owns 195 shares of the company's stock worth $41,000 after buying an additional 86 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of L3Harris Technologies in the 3rd quarter valued at about $64,000. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of L3Harris Technologies by 1,660.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 352 shares of the company's stock valued at $74,000 after acquiring an additional 332 shares in the last quarter. Institutional investors and hedge funds 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.