Billionaire Jeffrey Talpins’ Top 5 Stocks Picks

2. L3Harris Technologies, Inc. (NYSE: LHX)

Talpins’ Stake Value: $70,362,000
Percentage of Jeffrey Talpins’ 13F Portfolio: 11.12%
Number of Hedge Fund Holders: 42

L3Harris Technologies, Inc. (NYSE: LHX), specializing in aerospace and defense technology, provides mission-critical solutions to government and commercial customers worldwide. The company was founded in 1895 and ranks second on the list of billionaire Jeffrey Talpins’ top 10 stocks picks. L3Harris Technologies, Inc. (NYSE: LHX) currently has a $46.18 billion market capitalization and was able to deliver a 25.88% return in the past 12 months.

On August 11, Morgan Stanley downgraded L3Harris Technologies, Inc. (NYSE: LHX) to “Equal Weight” from “Overweight,” maintaining a $238 price target. According to analysts, the stock has become the most expensive among the military sector’s pure plays. On August 4, The US Navy awarded L3Harris Technologies (NYSE: LHX) a $393 million contract to deploy the Undersea Warfare Training Range phases II and III.

L3Harris Technologies, Inc. (NYSE: LHX) is a new arrival on Jeffrey Talpins portfolio, as his hedge fund bought 325,525 shares worth over $70 million, representing close to 11.12% of their portfolio. In addition, hedge funds are loading up on L3Harris Technologies, Inc. (NYSE: LHX), as Insider Monkey’s data shows that 42 hedge funds held stakes in the company as of the end of the second quarter of 2021, up from 41 funds a quarter earlier.

Artisan Partners Limited Partnership, in its fourth-quarter 2020 investor letter, mentioned L3Harris Technologies, Inc. (NYSE: LHX). Here is what the fund said: 

“We also exited our position in L3Harris Technologies. L3Harris’ recent quarterly results showed some pandemic-related impact on the company’s business, though relative to other industrials stocks, the effect has been quite modest, and it is achieving ahead-of-schedule synergies from its recent merger. However, concerns about ballooning federal deficits and potential associated defense-budget cuts have been a headwind. We share these concerns, and with the company’s market cap above the mid-cap range, we concluded our campaign to fund newer profit cycle opportunities.”