State of New Jersey Common Pension Fund D reduced its stake in L3 Technologies Inc (NYSE:LLL) by 12.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,000 shares of the aerospace company’s stock after selling 40,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.34% of L3 Technologies worth $55,720,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Oakbrook Investments LLC boosted its stake in L3 Technologies by 1.3% during the first quarter. Oakbrook Investments LLC now owns 3,760 shares of the aerospace company’s stock valued at $776,000 after buying an additional 50 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in L3 Technologies by 8.5% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 653 shares of the aerospace company’s stock valued at $113,000 after buying an additional 51 shares during the period. First Commonwealth Financial Corp PA boosted its stake in L3 Technologies by 2.9% during the fourth quarter. First Commonwealth Financial Corp PA now owns 2,190 shares of the aerospace company’s stock valued at $380,000 after buying an additional 62 shares during the period. Mosaic Family Wealth LLC boosted its stake in L3 Technologies by 36.1% during the fourth quarter. Mosaic Family Wealth LLC now owns 264 shares of the aerospace company’s stock valued at $46,000 after buying an additional 70 shares during the period. Finally, Legacy Bridge LLC boosted its stake in L3 Technologies by 2.6% during the first quarter. Legacy Bridge LLC now owns 2,785 shares of the aerospace company’s stock valued at $575,000 after buying an additional 70 shares during the period. 82.34% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on L3 Technologies from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. SunTrust Banks raised L3 Technologies to a “buy” rating and set a $265.00 price objective for the company in a research note on Thursday, May 2nd. Credit Suisse Group lifted their price objective on L3 Technologies from $232.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Cowen reissued a “buy” rating and set a $250.00 price objective on shares of L3 Technologies in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. L3 Technologies currently has a consensus rating of “Buy” and a consensus target price of $238.33.
LLL stock traded up $0.01 during mid-day trading on Wednesday, hitting $240.77. 749,434 shares of the stock were exchanged, compared to its average volume of 537,451. The company has a quick ratio of 1.65, a current ratio of 2.02 and a debt-to-equity ratio of 0.54. L3 Technologies Inc has a 12 month low of $158.76 and a 12 month high of $244.95. The firm has a market cap of $19.24 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.21 and a beta of 1.28.
L3 Technologies (NYSE:LLL) last issued its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.52 by $0.37. L3 Technologies had a return on equity of 15.50% and a net margin of 9.64%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The company’s revenue was up 13.9% compared to the same quarter last year. As a group, research analysts expect that L3 Technologies Inc will post 11.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, May 16th. L3 Technologies’s dividend payout ratio (DPR) is currently 31.63%.
In other news, insider Todd W. Gautier sold 7,438 shares of L3 Technologies 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.
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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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