Millennium Management LLC raised its holdings in shares of L3 Technologies Inc (NYSE:LLL) by 52.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 703,966 shares of the aerospace company’s stock after buying an additional 240,875 shares during the quarter. Millennium Management LLC owned about 0.90% of L3 Technologies worth $139,280,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Personal Capital Advisors Corp grew its position in L3 Technologies by 19.5% during the fourth quarter. Personal Capital Advisors Corp now owns 73,735 shares of the aerospace company’s stock worth $14,589,000 after buying an additional 12,012 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new position in L3 Technologies during the third quarter worth about $1,598,000. MUFG Americas Holdings Corp grew its position in L3 Technologies by 281.7% during the fourth quarter. MUFG Americas Holdings Corp now owns 1,626 shares of the aerospace company’s stock worth $321,000 after buying an additional 1,200 shares in the last quarter. Rhumbline Advisers grew its position in L3 Technologies by 2.6% during the fourth quarter. Rhumbline Advisers now owns 138,536 shares of the aerospace company’s stock worth $27,409,000 after buying an additional 3,467 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in L3 Technologies by 6.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 11,168 shares of the aerospace company’s stock worth $2,209,000 after buying an additional 654 shares in the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
LLL has been the subject of several recent analyst reports. Zacks Investment Research cut L3 Technologies from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. SunTrust Banks upped their price objective on L3 Technologies to $253.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Barclays initiated coverage on L3 Technologies in a report on Thursday, March 29th. They issued an “overweight” rating and a $274.00 price objective for the company. Finally, Bank of America upgraded L3 Technologies from a “neutral” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $224.50.
NYSE LLL opened at $207.78 on Friday. L3 Technologies Inc has a 1-year low of $159.43 and a 1-year high of $218.71. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.87 and a quick ratio of 1.71. The stock has a market capitalization of $16,485.70, a PE ratio of 24.53, a P/E/G ratio of 2.67 and a beta of 1.21.
L3 Technologies (NYSE:LLL) last released its earnings results on Thursday, January 25th. The aerospace company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. L3 Technologies had a return on equity of 13.63% and a net margin of 6.37%. The company had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the company posted $2.38 EPS. L3 Technologies’s revenue for the quarter was down 2.6% on a year-over-year basis. equities research analysts forecast that L3 Technologies Inc will post 9.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Wednesday, February 28th. This is a positive change from L3 Technologies’s previous quarterly dividend of $0.75. L3 Technologies’s payout ratio is 37.78%.
In other news, Chairman Michael T. Strianese sold 39,515 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $206.02, for a total value of $8,140,880.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dan Azmon sold 1,772 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $203.82, for a total value of $361,169.04. The disclosure for this sale can be found here. In the last three months, insiders sold 517,013 shares of company stock valued at $107,431,977. 2.90% of the stock is currently owned by corporate insiders.
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About L3 Technologies
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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