First Allied Advisory Services Inc. decreased its holdings in L3 Technologies Inc (NYSE:LLL) by 34.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,125 shares of the aerospace company’s stock after selling 1,107 shares during the quarter. First Allied Advisory Services Inc.’s holdings in L3 Technologies were worth $425,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. New Mexico Educational Retirement Board raised its stake in L3 Technologies by 4.2% in the 4th quarter. New Mexico Educational Retirement Board now owns 7,519 shares of the aerospace company’s stock worth $1,488,000 after acquiring an additional 300 shares during the last quarter. First Republic Investment Management Inc. raised its stake in L3 Technologies by 2.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 11,724 shares of the aerospace company’s stock worth $2,209,000 after acquiring an additional 309 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in L3 Technologies by 6.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 5,353 shares of the aerospace company’s stock worth $1,059,000 after acquiring an additional 324 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in L3 Technologies by 10.4% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,514 shares of the aerospace company’s stock worth $662,000 after acquiring an additional 330 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in L3 Technologies by 56.5% in the 3rd quarter. Parallel Advisors LLC now owns 961 shares of the aerospace company’s stock worth $178,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 77.80% of the company’s stock.
In other L3 Technologies news, insider Michael T. Strianese sold 39,515 shares of L3 Technologies stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $197.04, for a total transaction of $7,786,035.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 338,665 shares of company stock valued at $70,025,114 in the last quarter. Company insiders own 2.90% of the company’s stock.
L3 Technologies Inc (NYSE LLL) opened at $213.41 on Friday. The firm has a market capitalization of $16,693.78, a PE ratio of 24.84, a price-to-earnings-growth ratio of 2.70 and a beta of 1.26. L3 Technologies Inc has a 52 week low of $159.43 and a 52 week high of $218.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 1.89.
L3 Technologies (NYSE:LLL) last released its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.05. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.55 billion. L3 Technologies had a return on equity of 13.63% and a net margin of 6.37%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the business posted $2.38 EPS. equities research analysts expect that L3 Technologies Inc will post 9.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.50%. This is a positive change from L3 Technologies’s previous quarterly dividend of $0.75. L3 Technologies’s dividend payout ratio (DPR) is presently 35.25%.
LLL has been the subject of a number of research analyst reports. Zacks Investment Research upgraded L3 Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. SunTrust Banks raised their target price on L3 Technologies to $253.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Credit Suisse Group restated an “outperform” rating on shares of L3 Technologies in a research note on Thursday, December 7th. Finally, Royal Bank of Canada set a $202.00 target price on L3 Technologies and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $215.30.
About L3 Technologies
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems. The Company provides a broad range of communication and electronic systems and products used on military and commercial platforms.
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