Cypress Asset Management Inc. TX lowered its position in shares of L3 Technologies Inc (NYSE:LLL) by 71.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,135 shares of the aerospace company’s stock after selling 5,390 shares during the period. Cypress Asset Management Inc. TX’s holdings in L3 Technologies were worth $441,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Telos Capital Management Inc. purchased a new stake in shares of L3 Technologies in the first quarter valued at $211,000. Cornell Pochily Investment Advisors Inc. grew its position in shares of L3 Technologies by 12.9% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 1,750 shares of the aerospace company’s stock valued at $304,000 after purchasing an additional 200 shares during the period. Retirement Systems of Alabama grew its position in shares of L3 Technologies by 1.6% in the fourth quarter. Retirement Systems of Alabama now owns 65,274 shares of the aerospace company’s stock valued at $11,335,000 after purchasing an additional 1,048 shares during the period. Essex Savings Bank purchased a new stake in L3 Technologies during the fourth quarter valued at about $251,000. Finally, ETRADE Capital Management LLC grew its position in L3 Technologies by 8.5% during the fourth quarter. ETRADE Capital Management LLC now owns 3,817 shares of the aerospace company’s stock valued at $663,000 after acquiring an additional 299 shares during the period. Hedge funds and other institutional investors own 82.50% of the company’s stock.
LLL has been the subject of a number of research reports. Credit Suisse Group reissued a “buy” rating and set a $229.00 price target on shares of L3 Technologies in a research report on Wednesday, January 23rd. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Cowen reissued a “buy” rating and set a $250.00 price target on shares of L3 Technologies in a research report on Tuesday, January 29th. SunTrust Banks raised L3 Technologies to a “buy” rating and set a $265.00 price target for the company in a research report on Thursday, May 2nd. Finally, Zacks Investment Research cut L3 Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. L3 Technologies currently has an average rating of “Buy” and an average price target of $238.33.
In related news, insider Todd W. Gautier sold 7,438 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $205.69, for a total value of $1,529,922.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Todd W. Gautier sold 3,600 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $214.86, for a total value of $773,496.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Shares of NYSE:LLL traded up $0.74 during trading on Wednesday, hitting $243.63. The company’s stock had a trading volume of 338,329 shares, compared to its average volume of 542,534. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.65 and a current ratio of 2.02. L3 Technologies Inc has a fifty-two week low of $158.76 and a fifty-two week high of $244.95. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.17 and a beta of 1.28.
L3 Technologies (NYSE:LLL) last released its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $2.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.52 by $0.37. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.53 billion. L3 Technologies had a return on equity of 15.50% and a net margin of 9.64%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 earnings per share. On average, equities research analysts predict that L3 Technologies Inc will post 11.78 EPS for the current year.
The company 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 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Thursday, May 16th. L3 Technologies’s dividend payout ratio is currently 31.63%.
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L3 Technologies Profile
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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