Titan Wealth CI Ltd Acquires Shares of 28,752 L3Harris Technologies Inc $LHX

Key Points

• Titan Wealth CI Ltd bought a new stake in L3Harris Technologies, acquiring 28,752 shares worth about $8.44 million, making it roughly 3.2% of the fund’s portfolio.
• L3Harris posted strong quarterly results, with EPS of $2.72 beating estimates and revenue of $5.74 billion topping expectations; revenue rose 11.9% year over year.
• The company also declared a quarterly dividend of $1.25 per share and continues to draw mixed but generally positive analyst sentiment, with a consensus rating of Moderate Buy.

Titan Wealth CI Ltd acquired a new stake in L3Harris Technologies Inc (NYSE:LHX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 28,752 shares of the company's stock, valued at approximately $8,441,000. L3Harris Technologies comprises approximately 3.2% of Titan Wealth CI Ltd's investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Korea Investment CORP increased its stake in shares of L3Harris Technologies by 11.2% during the third quarter. Korea Investment CORP now owns 153,567 shares of the company's stock valued at $46,901,000 after buying an additional 15,408 shares during the period. Allstate Corp increased its stake in shares of L3Harris Technologies by 106.7% during the fourth quarter. Allstate Corp now owns 13,985 shares of the company's stock valued at $4,106,000 after buying an additional 7,219 shares during the period. Neo Ivy Capital Management purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $1,203,000. Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of L3Harris Technologies during the third quarter valued at approximately $72,446,000. Finally, Jain Global LLC increased its stake in shares of L3Harris Technologies by 469.1% during the third quarter. Jain Global LLC now owns 45,861 shares of the company's stock valued at $14,006,000 after buying an additional 37,803 shares during the period. Institutional investors own 84.76% of the company's stock.

L3Harris Technologies Price Performance

Shares of LHX stock opened at $310.95 on Wednesday. The stock has a market cap of $57.93 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 1.54 and a beta of 0.50. The business's fifty day moving average is $320.96 and its 200 day moving average is $327.93. L3Harris Technologies Inc has a twelve month low of $243.84 and a twelve month high of $379.23. The company has a quick ratio of 0.89, a current ratio of 1.03 and a debt-to-equity ratio of 0.47.

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

L3Harris Technologies Announces Dividend

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

Insider Buying and Selling

In other L3Harris Technologies news, VP Melanie Rakita sold 2,180 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $310.45, for a total value of $676,781.00. Following the sale, the vice president directly owned 4,192 shares of the company's stock, valued at approximately $1,301,406.40. The trade was a 34.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LHX. Sanford C. Bernstein reduced their target price on L3Harris Technologies to $405.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Wall Street Zen raised L3Harris Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. UBS Group reduced their target price on L3Harris Technologies from $362.00 to $330.00 and set a "neutral" rating on the stock in a research note on Friday, May 1st. Weiss Ratings raised L3Harris Technologies from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, May 13th. Finally, Argus raised L3Harris Technologies to a "strong-buy" rating in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $354.75.

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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