Arizona State Retirement System trimmed its stake in shares of L3 Technologies Inc (NYSE:LLL) by 12.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,304 shares of the aerospace company’s stock after selling 6,135 shares during the period. Arizona State Retirement System owned about 0.06% of L3 Technologies worth $8,328,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Wedgewood Investors Inc. PA acquired a new stake in L3 Technologies during the second quarter worth about $914,000. Strategy Asset Managers LLC acquired a new stake in L3 Technologies in the second quarter valued at approximately $577,000. Greenwood Capital Associates LLC grew its holdings in L3 Technologies by 16.8% in the second quarter. Greenwood Capital Associates LLC now owns 4,101 shares of the aerospace company’s stock valued at $789,000 after purchasing an additional 589 shares during the period. IFP Advisors Inc grew its holdings in L3 Technologies by 19.2% in the second quarter. IFP Advisors Inc now owns 3,110 shares of the aerospace company’s stock valued at $598,000 after purchasing an additional 502 shares during the period. Finally, Girard Partners LTD. grew its holdings in L3 Technologies by 31.4% in the second quarter. Girard Partners LTD. now owns 1,349 shares of the aerospace company’s stock valued at $259,000 after purchasing an additional 322 shares during the period. 79.16% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have commented on LLL. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Citigroup raised their price objective on L3 Technologies from $240.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 30th. Zacks Investment Research raised L3 Technologies from a “hold” rating to a “buy” rating and set a $237.00 price objective on the stock in a report on Monday, July 30th. Credit Suisse Group raised their price objective on L3 Technologies from $218.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, July 27th. Finally, UBS Group began coverage on L3 Technologies in a report on Wednesday, August 15th. They issued a “neutral” rating and a $230.00 price objective on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $234.08.
NYSE LLL opened at $211.10 on Tuesday. The company has a market capitalization of $16.45 billion, a PE ratio of 24.89, a PEG ratio of 2.26 and a beta of 1.25. L3 Technologies Inc has a 1-year low of $177.63 and a 1-year high of $218.71. The company has a current ratio of 1.82, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60.
L3 Technologies (NYSE:LLL) last released its earnings results on Thursday, July 26th. The aerospace company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.17. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.49 billion. L3 Technologies had a return on equity of 13.82% and a net margin of 8.74%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 earnings per share. research analysts predict that L3 Technologies Inc will post 10.02 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 17th will be given a $0.80 dividend. The ex-dividend date is Thursday, August 16th. This represents a $3.20 annualized dividend and a dividend yield of 1.52%. L3 Technologies’s dividend payout ratio (DPR) is presently 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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