Canada Pension Plan Investment Board increased its position in L3 Technologies Inc (NYSE:LLL) by 36.9% in the second quarter, HoldingsChannel.com reports. The firm owned 162,310 shares of the aerospace company’s stock after acquiring an additional 43,752 shares during the period. Canada Pension Plan Investment Board’s holdings in L3 Technologies were worth $31,215,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Mount Yale Investment Advisors LLC acquired a new position in L3 Technologies in the 1st quarter worth approximately $113,000. Institutional & Family Asset Management LLC acquired a new position in L3 Technologies in the 1st quarter worth approximately $129,000. Cornerstone Wealth Management LLC acquired a new position in L3 Technologies in the 2nd quarter worth approximately $166,000. Bray Capital Advisors acquired a new position in L3 Technologies in the 1st quarter worth approximately $177,000. Finally, Piedmont Investment Advisors LLC acquired a new position in L3 Technologies in the 2nd quarter worth approximately $177,000. 79.16% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on LLL shares. ValuEngine raised shares of L3 Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Credit Suisse Group raised their price objective on shares of L3 Technologies from $218.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Citigroup raised their price objective on shares of L3 Technologies from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Jefferies Financial Group reissued a “hold” rating and set a $222.00 target price on shares of L3 Technologies in a research note on Friday, July 27th. Finally, Zacks Investment Research lowered shares of L3 Technologies from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 15th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $234.08.
Shares of NYSE:LLL opened at $211.10 on Tuesday. The firm has a market cap of $16.45 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 2.26 and a beta of 1.25. L3 Technologies Inc has a 12-month low of $177.63 and a 12-month high of $218.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.82 and a quick ratio of 1.49.
L3 Technologies (NYSE:LLL) last issued its earnings results on Thursday, July 26th. The aerospace company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.17. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.49 billion. L3 Technologies had a net margin of 8.74% and a return on equity of 13.82%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. equities analysts forecast that L3 Technologies Inc will post 10.02 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 17th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, August 16th. L3 Technologies’s dividend payout ratio (DPR) is currently 37.78%.
L3 Technologies 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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