ValuEngine downgraded shares of L3 Technologies (NYSE:LLL) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
Several other research firms have also recently issued reports on LLL. Zacks Investment Research cut shares of L3 Technologies from a buy rating to a hold rating in a research note on Monday, March 12th. Barclays started coverage on shares of L3 Technologies in a research note on Thursday, March 29th. They issued an overweight rating and a $274.00 target price for the company. Stifel Nicolaus boosted their target price on shares of L3 Technologies from $215.00 to $220.00 and gave the company a hold rating in a research note on Wednesday, May 2nd. Finally, Credit Suisse Group decreased their target price on shares of L3 Technologies from $244.00 to $218.00 and set an outperform rating for the company in a research note on Tuesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $222.55.
L3 Technologies opened at $194.14 on Thursday, according to MarketBeat.com. 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 1 year low of $164.34 and a 1 year high of $218.71. The firm has a market capitalization of $15.24 billion, a P/E ratio of 21.91, a PEG ratio of 2.33 and a beta of 1.21.
L3 Technologies (NYSE:LLL) last posted its earnings results on Tuesday, May 1st. The aerospace company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.33. L3 Technologies had a net margin of 6.94% and a return on equity of 13.74%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the business posted $2.07 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. equities research analysts forecast that L3 Technologies will post 9.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 18th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, May 17th. L3 Technologies’s dividend payout ratio is presently 37.78%.
In other L3 Technologies news, Chairman Michael T. Strianese sold 39,515 shares of the company’s stock in a transaction on Monday, April 9th. The shares were sold at an average price of $209.62, for a total transaction of $8,283,134.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 237,090 shares of company stock valued at $48,463,172 over the last 90 days. 2.90% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Institutional & Family Asset Management LLC acquired a new stake in shares of L3 Technologies in the first quarter valued at about $129,000. Certified Advisory Corp acquired a new stake in shares of L3 Technologies in the fourth quarter valued at about $128,000. Kings Point Capital Management acquired a new stake in shares of L3 Technologies in the fourth quarter valued at about $158,000. Bray Capital Advisors acquired a new stake in shares of L3 Technologies in the first quarter valued at about $177,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of L3 Technologies in the first quarter valued at about $203,000. Institutional investors own 80.36% of the company’s stock.
About L3 Technologies
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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