L3 Technologies (LLL) Sets New 52-Week High on Analyst Upgrade

Shares of L3 Technologies Inc (NYSE:LLL) reached a new 52-week high on Thursday after Barclays raised their price target on the stock from $245.00 to $270.00. Barclays currently has an overweight rating on the stock. L3 Technologies traded as high as $239.50 and last traded at $238.13, with a volume of 276808 shares trading hands. The stock had previously closed at $235.51.

A number of other analysts have also weighed in on LLL. Credit Suisse Group raised their price objective on shares of L3 Technologies from $232.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. ValuEngine upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research lowered shares of L3 Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Cowen reaffirmed a “buy” rating and set a $250.00 price target on shares of L3 Technologies in a report on Wednesday, May 1st. Finally, SunTrust Banks raised shares of L3 Technologies to a “buy” rating and set a $265.00 price target on the stock in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. L3 Technologies presently has a consensus rating of “Buy” and a consensus target price of $238.33.

In other news, insider Todd W. Gautier sold 7,438 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,529,922.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc boosted its holdings in shares of L3 Technologies by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 8,734,137 shares of the aerospace company’s stock valued at $1,857,051,000 after acquiring an additional 96,559 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of L3 Technologies by 1.2% during the 1st quarter. BlackRock Inc. now owns 6,145,672 shares of the aerospace company’s stock valued at $1,268,284,000 after acquiring an additional 72,329 shares during the last quarter. CNH Partners LLC boosted its holdings in shares of L3 Technologies by 3.8% during the 1st quarter. CNH Partners LLC now owns 1,214,208 shares of the aerospace company’s stock valued at $250,576,000 after acquiring an additional 43,916 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of L3 Technologies by 6.1% during the 1st quarter. Geode Capital Management LLC now owns 1,094,049 shares of the aerospace company’s stock valued at $225,380,000 after acquiring an additional 62,928 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of L3 Technologies by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 928,890 shares of the aerospace company’s stock valued at $161,292,000 after acquiring an additional 5,194 shares during the last quarter. 82.50% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 2.02, a quick ratio of 1.65 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $18.84 billion, a PE ratio of 22.09, a P/E/G ratio of 2.17 and a beta of 1.28.

L3 Technologies (NYSE:LLL) last posted its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.37. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.53 billion. L3 Technologies had a net margin of 9.64% and a return on equity of 15.50%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. On average, analysts anticipate that L3 Technologies Inc will post 11.78 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, May 16th. L3 Technologies’s payout ratio is 31.63%.

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L3 Technologies Company Profile (NYSE:LLL)

L3 Technologies, Inc provides aircraft sustainment, simulation and training, night vision and image intensification equipment, and security and detection systems used on military, homeland security, and commercial platforms in the United States and internationally. It operates in three segments: Intelligence, Surveillance and Reconnaissance (ISR) Systems; Communications and Networked Systems (C&NS); and Electronic Systems.

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