JPMorgan Chase & Co. Increases L3Harris Technologies (NYSE:LHX) Price Target to $250.00

L3Harris Technologies (NYSE:LHX - Get Free Report) had its target price boosted by JPMorgan Chase & Co. from $240.00 to $250.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 18.06% from the stock's current price.

A number of other research analysts also recently weighed in on the company. UBS Group lifted their price target on L3Harris Technologies from $222.00 to $229.00 and gave the company a "neutral" rating in a report on Monday, January 29th. Royal Bank of Canada lifted their price target on L3Harris Technologies from $245.00 to $250.00 and gave the company an "outperform" rating in a report on Monday. Alembic Global Advisors upgraded L3Harris Technologies from a "neutral" rating to an "overweight" rating and set a $238.00 price target on the stock in a report on Monday, April 22nd. Wells Fargo & Company lowered their price target on L3Harris Technologies from $250.00 to $238.00 and set an "overweight" rating on the stock in a report on Tuesday, January 30th. Finally, Raymond James lifted their price target on L3Harris Technologies from $220.00 to $235.00 and gave the company an "outperform" rating in a report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.50.

L3Harris Technologies Price Performance

Shares of NYSE LHX traded down $2.30 during mid-day trading on Wednesday, reaching $211.75. The company had a trading volume of 909,992 shares, compared to its average volume of 1,127,979. The company has a current ratio of 0.98, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59. The stock has a market cap of $40.16 billion, a PE ratio of 34.38, a P/E/G ratio of 2.00 and a beta of 0.65. The company has a 50-day moving average price of $210.26 and a two-hundred day moving average price of $202.25. L3Harris Technologies has a 1-year low of $160.25 and a 1-year high of $218.34.

L3Harris Technologies (NYSE:LHX - Get Free Report) last issued its earnings results on Thursday, April 25th. The company reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.89 by $0.17. The business had revenue of $5.21 billion for the quarter, compared to analysts' expectations of $5.11 billion. L3Harris Technologies had a return on equity of 12.82% and a net margin of 5.82%. The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.86 EPS. On average, equities analysts anticipate that L3Harris Technologies will post 12.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Christopher E. Kubasik sold 40,000 shares of the business's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $212.22, for a total transaction of $8,488,800.00. Following the completion of the transaction, the chief executive officer now owns 116,175 shares of the company's stock, valued at approximately $24,654,658.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Edward J. Zoiss sold 3,707 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $211.47, for a total transaction of $783,919.29. Following the completion of the transaction, the insider now owns 28,644 shares of the company's stock, valued at approximately $6,057,346.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher E. Kubasik sold 40,000 shares of the company's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $212.22, for a total value of $8,488,800.00. Following the completion of the transaction, the chief executive officer now directly owns 116,175 shares of the company's stock, valued at approximately $24,654,658.50. The disclosure for this sale can be found here. Insiders sold 48,362 shares of company stock valued at $10,261,360 over the last quarter. Insiders own 0.87% of the company's stock.

Hedge Funds Weigh In On L3Harris Technologies

Large investors have recently added to or reduced their stakes in the company. Cross Staff Investments Inc raised its holdings in L3Harris Technologies by 12.4% in the 4th quarter. Cross Staff Investments Inc now owns 1,432 shares of the company's stock valued at $302,000 after acquiring an additional 158 shares in the last quarter. Sapient Capital LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $1,198,000. Bruce G. Allen Investments LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $46,000. BKM Wealth Management LLC acquired a new position in L3Harris Technologies in the 4th quarter valued at approximately $1,125,000. Finally, South Dakota Investment Council raised its holdings in L3Harris Technologies by 43.2% in the 3rd quarter. South Dakota Investment Council now owns 39,368 shares of the company's stock valued at $6,855,000 after acquiring an additional 11,879 shares in the last quarter. Institutional investors and hedge funds 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.