Themes Management Co LLC Takes $1.62 Million Position in L3Harris Technologies Inc $LHX

Key Points

• Themes Management Co LLC opened a new position in L3Harris Technologies, buying 5,500 shares valued at about $1.62 million. The stake represents roughly 1.2% of the firm’s portfolio and is its 20th-largest holding.
• Several other institutional investors also boosted or initiated positions in L3Harris, and institutions now own 84.76% of the stock. That includes large increases from Victory Capital Management, Two Sigma Investments, and M&T Bank.
• L3Harris recently beat quarterly earnings estimates, reporting EPS of $2.72 versus $2.53 expected and revenue of $5.74 billion versus $5.42 billion expected. The company also raised its FY 2026 guidance and declared a quarterly dividend of $1.25 per share.

Themes Management Co LLC purchased a new position in shares of L3Harris Technologies Inc (NYSE:LHX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,500 shares of the company's stock, valued at approximately $1,615,000. L3Harris Technologies makes up approximately 1.2% of Themes Management Co LLC's holdings, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its holdings in L3Harris Technologies by 1,053.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,181,900 shares of the company's stock worth $360,964,000 after acquiring an additional 1,079,474 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of L3Harris Technologies in the 3rd quarter valued at about $211,703,000. Two Sigma Investments LP lifted its position in shares of L3Harris Technologies by 560.7% during the third quarter. Two Sigma Investments LP now owns 614,287 shares of the company's stock worth $187,609,000 after purchasing an additional 521,312 shares during the last quarter. M&T Bank Corp lifted its position in shares of L3Harris Technologies by 3,127.8% during the fourth quarter. M&T Bank Corp now owns 408,740 shares of the company's stock worth $119,994,000 after purchasing an additional 396,077 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in L3Harris Technologies by 42.0% in the third quarter. Balyasny Asset Management L.P. now owns 1,101,285 shares of the company's stock worth $336,343,000 after purchasing an additional 325,963 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Insider Activity

In other news, insider Samir Mehta sold 5,528 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $370.32, for a total value of $2,047,128.96. Following the completion of the sale, the insider owned 7,756 shares of the company's stock, valued at $2,872,201.92. This trade represents a 41.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Melanie Rakita sold 2,180 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $310.45, for a total value of $676,781.00. Following the transaction, the vice president directly owned 4,192 shares in the company, valued at $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,365 shares of company stock worth $5,861,117 over the last 90 days. 0.68% of the stock is owned by company insiders.

Analyst Ratings Changes

LHX has been the topic of several research reports. Morgan Stanley upped their price objective on L3Harris Technologies from $367.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, February 2nd. Truist Financial upgraded L3Harris Technologies to a "strong-buy" rating in a report on Friday, May 1st. Wolfe Research restated an "outperform" rating on shares of L3Harris Technologies in a research report on Friday, January 30th. Argus raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Finally, Sanford C. Bernstein cut their price objective on L3Harris Technologies to $405.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $354.75.

L3Harris Technologies Trading Up 0.0%

L3Harris Technologies stock opened at $312.12 on Tuesday. The firm has a market cap of $58.15 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 1.58 and a beta of 0.51. L3Harris Technologies Inc has a 1 year low of $235.72 and a 1 year high of $379.23. The firm's 50 day moving average price is $335.61 and its two-hundred day moving average price is $325.46. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.89 and a current ratio of 1.03.

L3Harris Technologies (NYSE:LHX - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.72 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.19. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.42 billion. L3Harris Technologies had a return on equity of 10.65% and a net margin of 7.71%.The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.41 EPS. L3Harris Technologies has set its FY 2026 guidance at 11.400-11.600 EPS. On average, research analysts predict that L3Harris Technologies Inc will post 11.52 EPS for the current fiscal year.

L3Harris Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.00 dividend on an annualized basis and a yield of 1.6%. L3Harris Technologies's dividend payout ratio is currently 54.29%.

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.

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