Korea Investment CORP lessened its stake in shares of L3 Technologies (NYSE:LLL) by 16.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,903 shares of the aerospace company’s stock after selling 7,614 shares during the period. Korea Investment CORP’s holdings in L3 Technologies were worth $8,092,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Clifford Swan Investment Counsel LLC acquired a new stake in L3 Technologies during the 1st quarter worth about $207,000. King Luther Capital Management Corp acquired a new stake in L3 Technologies during the 1st quarter worth about $212,000. Parallel Advisors LLC raised its holdings in L3 Technologies by 26.4% during the 1st quarter. Parallel Advisors LLC now owns 1,366 shares of the aerospace company’s stock worth $284,000 after buying an additional 285 shares during the period. LS Investment Advisors LLC raised its holdings in L3 Technologies by 166.5% during the 1st quarter. LS Investment Advisors LLC now owns 7,633 shares of the aerospace company’s stock worth $1,588,000 after buying an additional 4,769 shares during the period. Finally, Pendal Group Ltd acquired a new stake in L3 Technologies during the 1st quarter worth about $996,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.
Several research firms have issued reports on LLL. Cowen restated a “buy” rating and set a $225.00 price objective on shares of L3 Technologies in a report on Friday, January 26th. SunTrust Banks upped their target price on L3 Technologies to $253.00 and gave the company a “buy” rating in a report on Friday, January 26th. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a report on Wednesday, January 24th. Finally, Zacks Investment Research downgraded L3 Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $222.55.
In related news, Chairman Michael T. Strianese sold 39,515 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $213.72, for a total value of $8,445,145.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dan Azmon sold 1,772 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $203.82, for a total value of $361,169.04. The disclosure for this sale can be found here. In the last three months, insiders sold 437,983 shares of company stock valued at $89,939,872. 2.90% of the stock is currently owned by company insiders.
Shares of L3 Technologies opened at $196.19 on Thursday, according to MarketBeat. The stock has a market capitalization of $15.25 billion, a PE ratio of 23.16, a price-to-earnings-growth ratio of 2.34 and a beta of 1.22. L3 Technologies has a fifty-two week low of $161.04 and a fifty-two week high of $218.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 1.92.
L3 Technologies (NYSE:LLL) last issued its earnings results on Tuesday, May 1st. The aerospace company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.33. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.32 billion. L3 Technologies had a return on equity of 13.74% and a net margin of 6.94%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.07 EPS. sell-side analysts expect that L3 Technologies will post 9.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 18th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $3.20 annualized dividend and a dividend yield of 1.63%. L3 Technologies’s payout ratio is 37.78%.
L3 Technologies Profile
L3 Technologies, Inc provides aerospace systems, communication, electronic, and sensor systems used on military, homeland security, and commercial platforms in the United States and internationally. It offers simulation and training, night vision and image intensification equipment, and security and detection systems; and components, products, subsystems, and systems, as well as related services to military and commercial customers in various business areas, such as total training solutions, power and propulsion systems, aviation products, precision engagement systems, and security and detection systems.
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