J.P. Morgan Remains a Buy on L3Harris Technologies (LHX)

J.P. Morgan analyst Seth Seifman maintained a Buy rating on L3Harris Technologies yesterday and set a price target of $380.00. The company’s shares closed yesterday at $302.20.

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According to TipRanks, Seifman is a 5-star analyst with an average return of 15.8% and a 68.73% success rate. Seifman covers the Industrials sector, focusing on stocks such as L3Harris Technologies, York Space Systems, Inc., and Lockheed Martin.

In addition to J.P. Morgan, L3Harris Technologies also received a Buy from Argus Research’s Kristina Ruggeri in a report issued on May 4. However, on May 1, UBS maintained a Hold rating on L3Harris Technologies (NYSE: LHX).

Based on L3Harris Technologies’ latest earnings release for the quarter ending April 3, the company reported a quarterly revenue of $5.74 billion and a net profit of $512 million. In comparison, last year the company earned a revenue of $5.13 billion and had a net profit of $386 million

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LHX in relation to earlier this year. Earlier this month, Melanie Rakita, the VP & CHRO of LHX sold 2,180.00 shares for a total of $676,781.00.