L3 Technologies (LLL) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of L3 Technologies (NYSE:LLL) from an overweight rating to a neutral rating in a research report released on Friday, The Fly reports. JPMorgan Chase & Co. currently has $240.00 target price on the aerospace company’s stock, down from their prior target price of $245.00.

Other research analysts have also issued research reports about the stock. ValuEngine lowered shares of L3 Technologies from a buy rating to a hold rating in a research note on Tuesday, September 4th. Zacks Investment Research lowered shares of L3 Technologies from a buy rating to a hold rating in a research note on Tuesday, September 11th. UBS Group initiated coverage on shares of L3 Technologies in a research note on Wednesday, August 15th. They set a neutral rating and a $230.00 target price for the company. Vertical Research raised shares of L3 Technologies from a hold rating to a buy rating in a research note on Monday, October 15th. Finally, Citigroup increased their target price on shares of L3 Technologies from $240.00 to $250.00 and gave the stock a buy rating in a research note on Monday, July 30th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $241.17.

L3 Technologies stock traded up $0.31 during midday trading on Friday, hitting $186.21. 27,152 shares of the stock were exchanged, compared to its average volume of 1,169,490. L3 Technologies has a fifty-two week low of $180.24 and a fifty-two week high of $223.73. The stock has a market cap of $14.63 billion, a P/E ratio of 21.98, a PEG ratio of 1.49 and a beta of 1.27. The company has a current ratio of 1.96, a quick ratio of 1.56 and a debt-to-equity ratio of 0.58.

L3 Technologies (NYSE:LLL) last released its quarterly earnings data on Monday, October 15th. The aerospace company reported $2.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.39 by $0.46. L3 Technologies had a net margin of 10.64% and a return on equity of 14.37%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business earned $1.96 earnings per share. L3 Technologies’s revenue was up 9.9% compared to the same quarter last year. As a group, analysts forecast that L3 Technologies will post 10.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 16th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, November 15th. L3 Technologies’s payout ratio is 37.78%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its stake in L3 Technologies by 1.0% in the second quarter. Mutual of America Capital Management LLC now owns 24,330 shares of the aerospace company’s stock worth $4,679,000 after acquiring an additional 238 shares during the last quarter. Pillar Pacific Capital Management LLC raised its holdings in L3 Technologies by 6.6% during the third quarter. Pillar Pacific Capital Management LLC now owns 4,631 shares of the aerospace company’s stock worth $984,000 after purchasing an additional 285 shares in the last quarter. Hudson Capital Management LLC raised its holdings in L3 Technologies by 13.2% during the third quarter. Hudson Capital Management LLC now owns 2,465 shares of the aerospace company’s stock worth $524,000 after purchasing an additional 287 shares in the last quarter. Northstar Asset Management LLC raised its holdings in L3 Technologies by 3.1% during the second quarter. Northstar Asset Management LLC now owns 10,000 shares of the aerospace company’s stock worth $1,923,000 after purchasing an additional 300 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in L3 Technologies by 4.2% during the second quarter. CIBC Asset Management Inc now owns 7,533 shares of the aerospace company’s stock worth $1,449,000 after purchasing an additional 306 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

About L3 Technologies

L3 Technologies, Inc provides aerospace systems, communication, electronic, and sensor systems used on military, homeland security, and commercial platforms in the United States and internationally. It offers simulation and training, night vision and image intensification equipment, and security and detection systems; and components, products, subsystems, and systems, as well as related services to military and commercial customers in various business areas, such as total training solutions, power and propulsion systems, aviation products, precision engagement systems, and security and detection systems.

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