OppenheimerFunds Inc. lowered its position in shares of L3 Technologies Inc (NYSE:LLL) by 19.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 447,920 shares of the aerospace company’s stock after selling 109,360 shares during the period. OppenheimerFunds Inc. owned about 0.57% of L3 Technologies worth $88,621,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Personal Capital Advisors Corp increased its stake in shares of L3 Technologies by 19.5% during the fourth quarter. Personal Capital Advisors Corp now owns 73,735 shares of the aerospace company’s stock valued at $14,589,000 after buying an additional 12,012 shares during the period. Stonebridge Capital Advisors LLC purchased a new position in shares of L3 Technologies during the third quarter valued at $1,598,000. Bank of Montreal Can increased its stake in shares of L3 Technologies by 278.0% during the fourth quarter. Bank of Montreal Can now owns 94,982 shares of the aerospace company’s stock valued at $18,791,000 after buying an additional 69,854 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of L3 Technologies by 50.7% during the third quarter. BNP Paribas Arbitrage SA now owns 50,702 shares of the aerospace company’s stock valued at $9,554,000 after buying an additional 17,052 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of L3 Technologies by 114.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 5,787 shares of the aerospace company’s stock valued at $1,090,000 after buying an additional 3,091 shares during the period. Hedge funds and other institutional investors own 77.80% of the company’s stock.
L3 Technologies Inc (LLL) opened at $213.41 on Friday. L3 Technologies Inc has a 52 week low of $159.43 and a 52 week high of $218.71. The company has a quick ratio of 1.72, a current ratio of 1.89 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $16,680.00, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.69 and a beta of 1.26.
L3 Technologies (NYSE:LLL) last posted its earnings results on Thursday, January 25th. The aerospace company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. The company 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%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.38 earnings per share. equities research analysts expect that L3 Technologies Inc will post 9.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.50%. 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. L3 Technologies’s dividend payout ratio (DPR) is currently 35.38%.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded L3 Technologies from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research note on Tuesday, February 6th. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Cowen reiterated a “buy” rating and issued a $225.00 target price on shares of L3 Technologies in a research note on Friday, January 26th. SunTrust Banks lifted their target price on L3 Technologies to $253.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a research note on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. L3 Technologies has a consensus rating of “Buy” and an average price target of $215.30.
In other L3 Technologies news, insider Michael T. Strianese sold 39,515 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $197.04, for a total value of $7,786,035.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 338,665 shares of company stock valued at $70,025,114. Corporate insiders own 2.90% of the company’s stock.
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L3 Technologies 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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