Neuberger Berman Group LLC grew its position in L3 Technologies Inc (NYSE:LLL) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 343,468 shares of the aerospace company’s stock after purchasing an additional 4,031 shares during the quarter. Neuberger Berman Group LLC’s holdings in L3 Technologies were worth $70,882,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Glassman Wealth Services purchased a new stake in shares of L3 Technologies during the first quarter valued at $32,000. Investors Research Corp purchased a new stake in shares of L3 Technologies during the first quarter valued at $41,000. First Interstate Bank purchased a new stake in shares of L3 Technologies during the first quarter valued at $43,000. ERTS Wealth Advisors LLC purchased a new stake in shares of L3 Technologies during the fourth quarter valued at $40,000. Finally, Claybrook Capital LLC purchased a new stake in shares of L3 Technologies during the fourth quarter valued at $41,000. 82.31% of the stock is currently owned by institutional investors and hedge funds.
NYSE:LLL traded down $1.04 during mid-day trading on Wednesday, hitting $242.28. The company’s stock had a trading volume of 244,325 shares, compared to its average volume of 540,655. L3 Technologies Inc has a 1 year low of $158.76 and a 1 year high of $259.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.65 and a current ratio of 2.02. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.06.
L3 Technologies (NYSE:LLL) last posted its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.52 by $0.37. L3 Technologies had a net margin of 9.64% and a return on equity of 15.50%. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts predict that L3 Technologies Inc will post 11.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, May 16th. L3 Technologies’s payout ratio is 31.63%.
A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of L3 Technologies from $245.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. ValuEngine raised shares of L3 Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. SunTrust Banks raised shares of L3 Technologies to a “buy” rating and set a $265.00 price objective on the stock in a report on Thursday, May 2nd. Credit Suisse Group boosted their price objective on shares of L3 Technologies from $232.00 to $258.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Finally, Cowen reissued a “buy” rating and set a $250.00 price objective on shares of L3 Technologies in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $238.33.
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L3 Technologies Profile
L3 Technologies, Inc provides aircraft sustainment, simulation and training, night vision and image intensification equipment, and security and detection systems used on military, homeland security, and commercial platforms in the United States and internationally. It operates in three segments: Intelligence, Surveillance and Reconnaissance (ISR) Systems; Communications and Networked Systems (C&NS); and Electronic Systems.
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