Private Advisor Group LLC boosted its stake in L3 Technologies Inc (NYSE:LLL) by 57.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 6,323 shares of the aerospace company’s stock after buying an additional 2,311 shares during the period. Private Advisor Group LLC’s holdings in L3 Technologies were worth $1,305,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in LLL. Norges Bank acquired a new position in L3 Technologies in the 4th quarter valued at about $129,509,000. Alpine Associates Management Inc. acquired a new position in L3 Technologies in the 4th quarter valued at about $105,794,000. Water Island Capital LLC grew its stake in L3 Technologies by 547.9% in the 1st quarter. Water Island Capital LLC now owns 465,501 shares of the aerospace company’s stock valued at $96,065,000 after buying an additional 393,654 shares during the last quarter. Two Sigma Investments LP grew its stake in L3 Technologies by 255.6% in the 4th quarter. Two Sigma Investments LP now owns 298,975 shares of the aerospace company’s stock valued at $51,920,000 after buying an additional 214,899 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its stake in L3 Technologies by 53.8% in the 4th quarter. Ceredex Value Advisors LLC now owns 551,925 shares of the aerospace company’s stock valued at $95,847,000 after buying an additional 193,100 shares during the last quarter. Institutional investors and hedge funds own 82.31% of the company’s stock.
Shares of NYSE:LLL opened at $245.55 on Thursday. L3 Technologies Inc has a 12-month low of $158.76 and a 12-month high of $259.58. The company has a market cap of $19.33 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.07. The company has a current ratio of 2.02, a quick ratio of 1.65 and a debt-to-equity ratio of 0.54.
L3 Technologies (NYSE:LLL) last announced its earnings results on Wednesday, May 1st. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.37. L3 Technologies had a net margin of 9.64% and a return on equity of 15.50%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. Equities analysts expect that L3 Technologies Inc will post 11.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Friday, May 17th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $3.40 annualized dividend and a dividend yield of 1.38%. L3 Technologies’s dividend payout ratio is 31.63%.
A number of brokerages recently commented on LLL. Cowen reiterated a “buy” rating and issued a $250.00 price target on shares of L3 Technologies in a research note on Wednesday, May 1st. ValuEngine upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. SunTrust Banks upgraded shares of L3 Technologies to a “buy” rating and set a $265.00 target price on the stock in a research report on Thursday, May 2nd. Credit Suisse Group increased their target price on shares of L3 Technologies from $232.00 to $258.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Barclays increased their target price on shares of L3 Technologies from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. L3 Technologies has an average rating of “Buy” and an average target price of $238.33.
About L3 Technologies
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.
Further Reading: Sell-Side Analysts
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