Palisade Asset Management LLC Sells 18,695 Shares of L3 Technologies Inc (LLL)

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Palisade Asset Management LLC lowered its position in L3 Technologies Inc (NYSE:LLL) by 35.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 34,454 shares of the aerospace company’s stock after selling 18,695 shares during the quarter. Palisade Asset Management LLC’s holdings in L3 Technologies were worth $7,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LLL. Bronfman E.L. Rothschild L.P. boosted its position in shares of L3 Technologies by 8.5% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 653 shares of the aerospace company’s stock valued at $113,000 after acquiring an additional 51 shares during the last quarter. First Commonwealth Financial Corp PA boosted its position in shares of L3 Technologies by 2.9% during the 4th quarter. First Commonwealth Financial Corp PA now owns 2,190 shares of the aerospace company’s stock valued at $380,000 after acquiring an additional 62 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in shares of L3 Technologies by 36.1% during the 4th quarter. Mosaic Family Wealth LLC now owns 264 shares of the aerospace company’s stock valued at $46,000 after acquiring an additional 70 shares during the last quarter. River Wealth Advisors LLC boosted its position in shares of L3 Technologies by 16.1% during the 4th quarter. River Wealth Advisors LLC now owns 540 shares of the aerospace company’s stock valued at $94,000 after acquiring an additional 75 shares during the last quarter. Finally, First Manhattan Co. boosted its position in shares of L3 Technologies by 2.2% during the 1st quarter. First Manhattan Co. now owns 4,139 shares of the aerospace company’s stock valued at $854,000 after acquiring an additional 90 shares during the last quarter. 82.58% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on LLL shares. Zacks Investment Research downgraded L3 Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Credit Suisse Group reiterated a “buy” rating and set a $229.00 price target on shares of L3 Technologies in a research report on Wednesday, January 23rd. Cowen reiterated a “buy” rating and set a $250.00 price target on shares of L3 Technologies in a research report on Tuesday, January 29th. Citigroup dropped their price target on L3 Technologies from $224.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, January 14th. Finally, ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a research report on Monday, December 17th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. L3 Technologies currently has a consensus rating of “Buy” and an average price target of $228.90.

In related news, insider Todd W. Gautier sold 7,438 shares of the business’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

NYSE:LLL traded down $2.68 during mid-day trading on Monday, reaching $214.38. The stock had a trading volume of 456,110 shares, compared to its average volume of 556,138. The company has a market capitalization of $17.23 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 2.00 and a beta of 1.27. L3 Technologies Inc has a one year low of $158.76 and a one year high of $223.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.97 and a quick ratio of 1.61.

L3 Technologies (NYSE:LLL) last released its earnings results on Tuesday, January 29th. The aerospace company reported $3.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.44. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.68 billion. L3 Technologies had a return on equity of 15.27% and a net margin of 9.81%. L3 Technologies’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 EPS. As a group, sell-side analysts anticipate that L3 Technologies Inc will post 11.5 EPS for the current year.

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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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Institutional Ownership by Quarter for L3 Technologies (NYSE:LLL)

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