Palladium Partners LLC lessened its position in shares of L3 Technologies Inc (NYSE:LLL) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,260 shares of the aerospace company’s stock after selling 365 shares during the quarter. Palladium Partners LLC’s holdings in L3 Technologies were worth $2,426,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of LLL. Royal Bank of Canada lifted its stake in L3 Technologies by 102.8% in the second quarter. Royal Bank of Canada now owns 58,870 shares of the aerospace company’s stock valued at $9,836,000 after buying an additional 29,845 shares during the period. Macquarie Group Ltd. increased its holdings in shares of L3 Technologies by 58.3% in the second quarter. Macquarie Group Ltd. now owns 1,900 shares of the aerospace company’s stock worth $317,000 after acquiring an additional 700 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of L3 Technologies by 141.1% in the second quarter. The Manufacturers Life Insurance Company now owns 218,580 shares of the aerospace company’s stock worth $36,520,000 after acquiring an additional 127,932 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of L3 Technologies by 11.1% in the second quarter. Coldstream Capital Management Inc. now owns 3,943 shares of the aerospace company’s stock worth $659,000 after acquiring an additional 393 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of L3 Technologies by 11.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,123 shares of the aerospace company’s stock worth $1,358,000 after acquiring an additional 817 shares in the last quarter. 77.44% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Michael T. Strianese sold 22,545 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $196.26, for a total value of $4,424,681.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 299,150 shares of company stock worth $61,651,095 over the last ninety days. Company insiders own 2.90% of the company’s stock.
Shares of L3 Technologies Inc (NYSE LLL) traded up $2.23 on Wednesday, hitting $208.84. The stock had a trading volume of 360,347 shares, compared to its average volume of 744,477. L3 Technologies Inc has a one year low of $159.43 and a one year high of $218.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 1.89. The company has a market cap of $16,260.00, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26.
L3 Technologies (NYSE:LLL) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.55 billion. L3 Technologies had a return on equity of 13.63% and a net margin of 6.37%. L3 Technologies’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.38 EPS. equities analysts expect that L3 Technologies Inc will post 9.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This is an increase from L3 Technologies’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.53%. L3 Technologies’s payout ratio is presently 35.50%.
LLL has been the subject of a number of research reports. Cowen reiterated a “buy” rating and set a $225.00 price objective on shares of L3 Technologies in a report on Friday, January 26th. SunTrust Banks raised their price target on L3 Technologies to $253.00 and gave the company a “buy” rating in a research note on Friday, January 26th. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $250.00 price objective on shares of L3 Technologies in a research report on Wednesday, January 24th. Finally, Bank of America raised L3 Technologies from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a research report on Wednesday, January 17th. Four 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 stock has a consensus rating of “Buy” and a consensus price target of $215.30.
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L3 Technologies Company Profile
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems. The Company provides a broad range of communication and electronic systems and products used on military and commercial platforms.
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