CNH Partners LLC Has $250.58 Million Position in L3 Technologies Inc (NYSE:LLL)

CNH Partners LLC increased its position in L3 Technologies Inc (NYSE:LLL) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,214,208 shares of the aerospace company’s stock after buying an additional 43,916 shares during the period. L3 Technologies accounts for about 3.1% of CNH Partners LLC’s investment portfolio, making the stock its 2nd biggest position. CNH Partners LLC’s holdings in L3 Technologies were worth $250,576,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Telos Capital Management Inc. purchased a new stake in L3 Technologies during the first quarter valued at approximately $211,000. Mason Street Advisors LLC raised its position in L3 Technologies by 2.0% during the first quarter. Mason Street Advisors LLC now owns 11,315 shares of the aerospace company’s stock valued at $2,335,000 after purchasing an additional 220 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in L3 Technologies by 8.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,637 shares of the aerospace company’s stock valued at $957,000 after purchasing an additional 344 shares during the period. ETRADE Capital Management LLC raised its position in L3 Technologies by 8.5% during the fourth quarter. ETRADE Capital Management LLC now owns 3,817 shares of the aerospace company’s stock valued at $663,000 after purchasing an additional 299 shares during the period. Finally, Norinchukin Bank The raised its position in L3 Technologies by 43.1% during the fourth quarter. Norinchukin Bank The now owns 14,407 shares of the aerospace company’s stock valued at $2,502,000 after purchasing an additional 4,340 shares during the period. Institutional investors own 82.31% of the company’s stock.

LLL has been the topic of several recent analyst reports. Barclays increased their price target on L3 Technologies from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Credit Suisse Group increased their price target on L3 Technologies from $232.00 to $258.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. SunTrust Banks upgraded L3 Technologies to a “buy” rating and set a $265.00 price target on the stock in a report on Thursday, May 2nd. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Cowen reiterated a “buy” rating and issued a $250.00 price target on shares of L3 Technologies in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $238.33.

Shares of NYSE LLL traded up $1.11 during midday trading on Friday, hitting $246.76. The company’s stock had a trading volume of 643,137 shares, compared to its average volume of 476,350. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.65 and a current ratio of 2.02. L3 Technologies Inc has a 12-month low of $158.76 and a 12-month high of $259.58. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.25 and a beta of 1.07.

L3 Technologies (NYSE:LLL) last issued its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.37. L3 Technologies had a return on equity of 15.50% and a net margin of 9.64%. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Sell-side analysts predict that L3 Technologies Inc will post 11.78 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Friday, May 17th were paid a $0.85 dividend. The ex-dividend date was Thursday, May 16th. This represents a $3.40 annualized dividend and a yield of 1.38%. L3 Technologies’s dividend payout ratio (DPR) is currently 31.63%.

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About L3 Technologies

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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Institutional Ownership by Quarter for L3 Technologies (NYSE:LLL)

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