L3Harris Technologies (NYSE:LHX) Given New $340.00 Price Target at JPMorgan Chase & Co.

L3Harris Technologies (NYSE:LHX) had its price objective upped by research analysts at JPMorgan Chase & Co. from $325.00 to $340.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.11% from the company’s current price.

A number of other analysts have also commented on LHX. Barclays raised their price target on L3Harris Technologies from $255.00 to $305.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada raised their price target on L3Harris Technologies from $265.00 to $280.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. UBS Group increased their price objective on L3Harris Technologies from $318.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley increased their price objective on L3Harris Technologies from $250.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Finally, Robert W. Baird increased their price objective on L3Harris Technologies from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.63.

L3Harris Technologies Stock Up 0.6%

LHX stock traded up $1.73 during midday trading on Tuesday, reaching $290.32. 82,082 shares of the company’s stock traded hands, compared to its average volume of 1,339,078. The company has a quick ratio of 0.87, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $54.32 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 2.09 and a beta of 0.76. The firm’s fifty day moving average price is $287.17 and its 200-day moving average price is $262.40. L3Harris Technologies has a 52 week low of $193.09 and a 52 week high of $308.12.

L3Harris Technologies (NYSE:LHX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.60 by $0.10. The company had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.51 billion. L3Harris Technologies had a net margin of 7.94% and a return on equity of 11.82%. L3Harris Technologies’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 earnings per share. L3Harris Technologies has set its FY 2025 guidance at 10.500-10.700 EPS. As a group, sell-side analysts forecast that L3Harris Technologies will post 11.12 earnings per share for the current fiscal year.

Insider Buying and Selling at L3Harris Technologies

In other news, CEO Christopher E. Kubasik sold 83,000 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $279.90, for a total transaction of $23,231,700.00. Following the completion of the transaction, the chief executive officer directly owned 145,578 shares in the company, valued at $40,747,282.20. This trade represents a 36.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On L3Harris Technologies

Several large investors have recently bought and sold shares of the business. Cyndeo Wealth Partners LLC increased its holdings in L3Harris Technologies by 2.7% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 1,396 shares of the company’s stock worth $350,000 after buying an additional 37 shares in the last quarter. Twin Lakes Capital Management LLC boosted its stake in L3Harris Technologies by 0.3% during the third quarter. Twin Lakes Capital Management LLC now owns 14,340 shares of the company’s stock worth $4,380,000 after buying an additional 38 shares during the period. Fidelis Capital Partners LLC boosted its position in L3Harris Technologies by 2.2% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,781 shares of the company’s stock worth $493,000 after purchasing an additional 39 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of L3Harris Technologies by 44.4% during the 2nd quarter. Independence Bank of Kentucky now owns 130 shares of the company’s stock valued at $33,000 after buying an additional 40 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its stake in shares of L3Harris Technologies by 3.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,095 shares of the company’s stock worth $280,000 after acquiring an additional 40 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors.

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.