On August 30, 2023 at 09:50:22 ET an unusually large $485.12K block of Put contracts in L3Harris Technologies (LHX) was sold, with a strike price of $185.00 / share, expiring in 16 day(s) (on September 15, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.00 sigmas above the mean, placing it in the th percentile of all recent large trades made in LHX options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 1943 funds or institutions reporting positions in L3Harris Technologies. This is a decrease of 78 owner(s) or 3.86% in the last quarter. Average portfolio weight of all funds dedicated to LHX is 0.31%, a decrease of 7.09%. Total shares owned by institutions decreased in the last three months by 0.46% to 183,439K shares. The put/call ratio of LHX is 1.12, indicating a bearish outlook.
Analyst Price Forecast Suggests 34.59% Upside
As of August 2, 2023, the average one-year price target for L3Harris Technologies is 239.70. The forecasts range from a low of 163.62 to a high of $354.90. The average price target represents an increase of 34.59% from its latest reported closing price of 178.09.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for L3Harris Technologies is 17,630MM, a decrease of 1.99%. The projected annual non-GAAP EPS is 12.90.
What are Other Shareholders Doing?
Price T Rowe Associates holds 10,554K shares representing 5.58% ownership of the company. In it’s prior filing, the firm reported owning 9,548K shares, representing an increase of 9.54%. The firm increased its portfolio allocation in LHX by 131.59% over the last quarter.
Capital World Investors holds 10,142K shares representing 5.36% ownership of the company. In it’s prior filing, the firm reported owning 13,390K shares, representing a decrease of 32.02%. The firm decreased its portfolio allocation in LHX by 29.69% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 5,914K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 5,892K shares, representing an increase of 0.37%. The firm decreased its portfolio allocation in LHX by 7.62% over the last quarter.
Wells Fargo holds 5,041K shares representing 2.67% ownership of the company. In it’s prior filing, the firm reported owning 5,075K shares, representing a decrease of 0.67%. The firm increased its portfolio allocation in LHX by 183.28% over the last quarter.
AWSHX – WASHINGTON MUTUAL INVESTORS FUND holds 4,803K shares representing 2.54% ownership of the company. In it’s prior filing, the firm reported owning 4,974K shares, representing a decrease of 3.56%. The firm decreased its portfolio allocation in LHX by 11.93% over the last quarter.
L3Harris Technologies Background Information
(This description is provided by the company.)
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 48,000 employees, with customers in more than 100 countries.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.