American International Group Inc. boosted its position in shares of L3 Technologies Inc (NYSE:LLL) by 6.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,363 shares of the aerospace company’s stock after buying an additional 1,760 shares during the period. American International Group Inc.’s holdings in L3 Technologies were worth $6,031,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new position in shares of L3 Technologies during the second quarter worth $166,000. Alps Advisors Inc. purchased a new position in shares of L3 Technologies during the second quarter worth $270,000. Piedmont Investment Advisors LLC purchased a new position in shares of L3 Technologies during the second quarter worth $177,000. TD Asset Management Inc. boosted its position in shares of L3 Technologies by 62.3% during the second quarter. TD Asset Management Inc. now owns 37,245 shares of the aerospace company’s stock worth $7,163,000 after buying an additional 14,293 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of L3 Technologies by 6.2% during the second quarter. Commonwealth Equity Services LLC now owns 5,353 shares of the aerospace company’s stock worth $1,030,000 after buying an additional 313 shares during the period. Hedge funds and other institutional investors own 80.01% of the company’s stock.
Several research analysts have recently commented on LLL shares. SunTrust Banks raised their price target on L3 Technologies to $268.00 and gave the stock a “buy” rating in a research report on Tuesday, October 16th. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 16th. Vertical Research upgraded L3 Technologies from a “hold” rating to a “buy” rating in a research report on Monday, October 15th. Zacks Investment Research upgraded L3 Technologies from a “hold” rating to a “buy” rating and set a $238.00 price target for the company in a research report on Monday, October 1st. Finally, UBS Group started coverage on L3 Technologies in a research report on Wednesday, August 15th. They set a “neutral” rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $236.67.
Shares of NYSE LLL opened at $178.27 on Thursday. The firm has a market capitalization of $14.42 billion, a PE ratio of 21.05, a P/E/G ratio of 1.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.56 and a current ratio of 1.96. L3 Technologies Inc has a 12-month low of $177.27 and a 12-month high of $223.73.
L3 Technologies (NYSE:LLL) last announced its quarterly earnings data on Monday, October 15th. The aerospace company reported $2.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.85. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. L3 Technologies had a return on equity of 14.71% and a net margin of 10.64%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the firm earned $1.96 earnings per share. As a group, analysts anticipate that L3 Technologies Inc will post 10.33 earnings per share for the current year.
The business 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 1.80%. The ex-dividend date is Thursday, November 15th. L3 Technologies’s payout ratio is currently 37.78%.
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L3 Technologies Profile
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.
Further Reading: Asset Allocation, Balancing Your Investments
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