JPMorgan Chase & Co. Raises L3Harris Technologies (NYSE:LHX) Price Target to $395.00

L3Harris Technologies (NYSE:LHX) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $340.00 to $395.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.98% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. BNP Paribas Exane upgraded L3Harris Technologies to a “hold” rating in a research report on Tuesday, November 18th. Vertical Research reissued a “buy” rating and set a $355.00 price objective on shares of L3Harris Technologies in a report on Tuesday, January 13th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of L3Harris Technologies in a report on Monday, January 12th. Citigroup lifted their price target on shares of L3Harris Technologies from $389.00 to $418.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley upped their price objective on shares of L3Harris Technologies from $367.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $328.57.

L3Harris Technologies Stock Up 2.2%

LHX opened at $349.62 on Thursday. The company has a market capitalization of $65.40 billion, a P/E ratio of 40.99, a P/E/G ratio of 2.46 and a beta of 0.64. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.19 and a quick ratio of 1.02. The firm’s fifty day moving average price is $314.93 and its two-hundred day moving average price is $294.16. L3Harris Technologies has a fifty-two week low of $193.09 and a fifty-two week high of $369.59.

L3Harris Technologies (NYSE:LHX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.10. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.76 billion. L3Harris Technologies had a net margin of 7.35% and a return on equity of 10.43%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $3.47 EPS. On average, analysts anticipate that L3Harris Technologies will post 11.12 EPS for the current year.

Insider Transactions at L3Harris Technologies

In other news, insider Samir Mehta sold 4,840 shares of L3Harris Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $338.85, for a total transaction of $1,640,034.00. Following the completion of the sale, the insider owned 5,916 shares in the company, valued at $2,004,636.60. The trade was a 45.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher E. Kubasik sold 14,171 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $301.05, for a total transaction of $4,266,179.55. Following the sale, the chief executive officer owned 144,426 shares of the company’s stock, valued at $43,479,447.30. The trade was a 8.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On L3Harris Technologies

Several institutional investors have recently modified their holdings of LHX. Brighton Jones LLC grew its holdings in L3Harris Technologies by 233.9% during the fourth quarter. Brighton Jones LLC now owns 4,284 shares of the company’s stock valued at $901,000 after purchasing an additional 3,001 shares during the period. Ameritas Advisory Services LLC bought a new position in L3Harris Technologies during the second quarter worth about $162,000. QRG Capital Management Inc. increased its holdings in shares of L3Harris Technologies by 21.1% in the second quarter. QRG Capital Management Inc. now owns 3,199 shares of the company’s stock worth $803,000 after acquiring an additional 558 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of L3Harris Technologies by 10.1% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,434 shares of the company’s stock valued at $360,000 after purchasing an additional 131 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of L3Harris Technologies during the 2nd quarter valued at about $318,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

About L3Harris Technologies

L3Harris Technologies (NYSE: LHX) is an American aerospace and defense company formed in 2019 through the combination of L3 Technologies and Harris Corporation. Headquartered in Melbourne, Florida, the company designs, manufactures and supports a broad range of technology solutions for government and commercial customers, with a particular emphasis on defense, intelligence and public safety applications.

The company’s offerings span communications systems, avionics, electronic warfare, intelligence, surveillance and reconnaissance (ISR) sensors, space systems and mission integration.