United Services Automobile Association decreased its position in shares of L3 Technologies Inc (NYSE:LLL) by 3.2% during the 2nd quarter, Holdings Channel reports. The fund owned 28,686 shares of the aerospace company’s stock after selling 933 shares during the quarter. United Services Automobile Association’s holdings in L3 Technologies were worth $5,517,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in LLL. Mount Yale Investment Advisors LLC bought a new position in L3 Technologies during the 1st quarter worth approximately $113,000. Cornerstone Wealth Management LLC bought a new position in L3 Technologies during the 2nd quarter worth approximately $166,000. Piedmont Investment Advisors LLC bought a new position in L3 Technologies during the 2nd quarter worth approximately $177,000. Benjamin F. Edwards & Company Inc. boosted its stake in L3 Technologies by 110.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 935 shares of the aerospace company’s stock worth $180,000 after acquiring an additional 491 shares during the last quarter. Finally, NEXT Financial Group Inc bought a new position in L3 Technologies during the 1st quarter worth approximately $203,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of LLL opened at $195.78 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 1.82. L3 Technologies Inc has a twelve month low of $180.24 and a twelve month high of $218.71. The company has a market capitalization of $16.65 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 2.28 and a beta of 1.23.
L3 Technologies (NYSE:LLL) last announced its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.17. L3 Technologies had a net margin of 8.74% and a return on equity of 13.82%. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm posted $2.54 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Analysts anticipate that L3 Technologies Inc will post 10.03 earnings per share for the current year.
LLL has been the topic of several recent analyst reports. ValuEngine lowered shares of L3 Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Zacks Investment Research lowered shares of L3 Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Credit Suisse Group lifted their price objective on shares of L3 Technologies from $218.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Jefferies Financial Group reissued a “hold” rating and set a $220.00 price objective on shares of L3 Technologies in a research note on Wednesday, July 11th. Finally, Cowen reaffirmed a “buy” rating and issued a $225.00 price target on shares of L3 Technologies in a research note on Tuesday, July 3rd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $236.82.
L3 Technologies Company 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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