Clifford Swan Investment Counsel LLC purchased a new position in shares of L3 Technologies (NYSE:LLL) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 997 shares of the aerospace company’s stock, valued at approximately $207,000.
Other institutional investors also recently added to or reduced their stakes in the company. Personal Capital Advisors Corp increased its position in L3 Technologies by 19.5% during the fourth quarter. Personal Capital Advisors Corp now owns 73,735 shares of the aerospace company’s stock worth $14,589,000 after buying an additional 12,012 shares in the last quarter. Certified Advisory Corp purchased a new position in L3 Technologies during the fourth quarter worth $128,000. Nomura Asset Management Co. Ltd. increased its position in L3 Technologies by 6.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 11,168 shares of the aerospace company’s stock worth $2,209,000 after buying an additional 654 shares in the last quarter. MUFG Americas Holdings Corp increased its position in L3 Technologies by 281.7% during the fourth quarter. MUFG Americas Holdings Corp now owns 1,626 shares of the aerospace company’s stock worth $321,000 after buying an additional 1,200 shares in the last quarter. Finally, Rhumbline Advisers increased its position in L3 Technologies by 2.6% during the fourth quarter. Rhumbline Advisers now owns 138,536 shares of the aerospace company’s stock worth $27,409,000 after buying an additional 3,467 shares in the last quarter. 78.51% of the stock is owned by institutional investors.
In related news, Chairman Michael T. Strianese sold 39,515 shares of L3 Technologies stock in a transaction on Monday, May 7th. The stock was sold at an average price of $187.05, for a total value of $7,391,280.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dan Azmon sold 1,772 shares of L3 Technologies stock in a transaction 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. Insiders sold 477,498 shares of company stock worth $98,313,891 in the last quarter. 2.90% of the stock is owned by insiders.
A number of equities research analysts have recently commented on the company. Zacks Investment Research raised L3 Technologies from a “hold” rating to a “buy” rating and set a $209.00 price objective for the company in a research report on Thursday, May 3rd. Stifel Nicolaus lifted their price objective on L3 Technologies from $215.00 to $220.00 and gave the company a “hold” rating in a research report on Wednesday, May 2nd. Barclays assumed coverage on L3 Technologies in a research report on Thursday, March 29th. They issued an “overweight” rating and a $274.00 price objective for the company. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Cowen reaffirmed a “buy” rating and issued a $225.00 price objective on shares of L3 Technologies in a research report on Friday, January 26th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. L3 Technologies currently has a consensus rating of “Buy” and an average price target of $223.00.
Shares of NYSE:LLL opened at $193.95 on Friday. The firm has a market capitalization of $15.07 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 2.31 and a beta of 1.22. The company has a quick ratio of 1.49, a current ratio of 1.92 and a debt-to-equity ratio of 0.63. L3 Technologies has a 52 week low of $192.68 and a 52 week high of $193.62.
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 the Zacks’ consensus estimate of $2.01 by $0.33. L3 Technologies had a return on equity of 13.74% and a net margin of 6.94%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter last year, the firm earned $2.07 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. research analysts anticipate that L3 Technologies will post 9.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, May 18th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, May 17th. L3 Technologies’s payout ratio is currently 37.78%.
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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