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

L3Harris Technologies (NYSE:LHX) had its price objective upped by JPMorgan Chase & Co. from $340.00 to $395.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.36% from the company’s previous close.

Several other equities analysts also recently commented on LHX. Truist Financial set a $364.00 target price on L3Harris Technologies in a research report on Wednesday, January 14th. Wolfe Research reiterated an “outperform” rating on shares of L3Harris Technologies in a report on Friday, January 30th. Vertical Research reiterated a “buy” rating and set a $355.00 price target on shares of L3Harris Technologies in a research note on Tuesday, January 13th. Susquehanna reiterated a “positive” rating on shares of L3Harris Technologies in a research note on Thursday, January 15th. Finally, TD Cowen restated a “buy” rating on shares of L3Harris Technologies in a report on Monday, January 5th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $328.57.

L3Harris Technologies Stock Performance

Shares of LHX stock traded up $3.34 during trading on Thursday, reaching $342.41. 1,353,829 shares of the company’s stock were exchanged, compared to its average volume of 1,848,431. The firm’s fifty day moving average price is $312.18 and its 200-day moving average price is $293.22. L3Harris Technologies has a twelve month low of $193.09 and a twelve month high of $369.59. The stock has a market capitalization of $64.05 billion, a PE ratio of 40.14, a PEG ratio of 2.53 and a beta of 0.64. The company has a quick ratio of 1.02, a current ratio of 1.19 and a debt-to-equity ratio of 0.53.

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

Insider Transactions at L3Harris Technologies

In other L3Harris Technologies news, CEO Christopher E. Kubasik sold 14,171 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 144,426 shares in the company, valued at approximately $43,479,447.30. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On L3Harris Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. iA Global Asset Management Inc. lifted its stake in shares of L3Harris Technologies by 895.2% in the 4th quarter. iA Global Asset Management Inc. now owns 25,756 shares of the company’s stock worth $7,561,000 after purchasing an additional 23,168 shares during the period. Hendley & Co. Inc. bought a new position in L3Harris Technologies in the fourth quarter worth approximately $577,000. Canada Post Corp Registered Pension Plan boosted its stake in shares of L3Harris Technologies by 24.7% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 5,000 shares of the company’s stock worth $1,468,000 after acquiring an additional 990 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of L3Harris Technologies by 0.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 68,255 shares of the company’s stock valued at $20,038,000 after acquiring an additional 491 shares during the period. Finally, AlphaCore Capital LLC raised its stake in L3Harris Technologies by 34.9% during the 4th quarter. AlphaCore Capital LLC now owns 2,334 shares of the company’s stock worth $685,000 after acquiring an additional 604 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

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.