New Mexico Educational Retirement Board lowered its position in L3 Technologies Inc (NYSE:LLL) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,919 shares of the aerospace company’s stock after selling 300 shares during the period. New Mexico Educational Retirement Board’s holdings in L3 Technologies were worth $1,309,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp increased its stake in shares of L3 Technologies by 5.1% in the fourth quarter. State Street Corp now owns 3,545,471 shares of the aerospace company’s stock valued at $539,290,000 after buying an additional 171,155 shares in the last quarter. AQR Capital Management LLC boosted its position in L3 Technologies by 14.7% in the fourth quarter. AQR Capital Management LLC now owns 2,098,142 shares of the aerospace company’s stock worth $319,148,000 after buying an additional 268,870 shares during the last quarter. Boston Partners boosted its position in L3 Technologies by 1,210.5% in the first quarter. Boston Partners now owns 1,170,837 shares of the aerospace company’s stock worth $193,527,000 after buying an additional 1,081,494 shares during the last quarter. Wells Fargo & Company MN boosted its position in L3 Technologies by 1.5% in the first quarter. Wells Fargo & Company MN now owns 859,635 shares of the aerospace company’s stock worth $142,091,000 after buying an additional 12,728 shares during the last quarter. Finally, Northern Trust Corp boosted its position in L3 Technologies by 4.6% in the third quarter. Northern Trust Corp now owns 848,410 shares of the aerospace company’s stock worth $127,881,000 after buying an additional 37,602 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.
L3 Technologies Inc (NYSE:LLL) traded up 1.25% on Friday, hitting $162.70. 752,309 shares of the stock were exchanged. L3 Technologies Inc has a one year low of $132.38 and a one year high of $179.95. The stock has a market capitalization of $12.64 billion, a P/E ratio of 19.84 and a beta of 1.09. The company has a 50 day moving average of $166.94 and a 200 day moving average of $159.96.
L3 Technologies (NYSE:LLL) last posted its quarterly earnings results on Thursday, April 27th. The aerospace company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.26. L3 Technologies had a net margin of 6.75% and a return on equity of 14.16%. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the company posted $2.08 EPS. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts forecast that L3 Technologies Inc will post $8.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 19th will be paid a $0.75 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.87%. L3 Technologies’s payout ratio is currently 31.08%.
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LLL has been the subject of a number of analyst reports. Zacks Investment Research raised shares of L3 Technologies from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a research report on Wednesday, March 29th. Stifel Nicolaus increased their price target on shares of L3 Technologies from $162.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, January 27th. Royal Bank of Canada reissued a “hold” rating and issued a $159.00 target price on shares of L3 Technologies in a report on Friday, March 24th. Jefferies Group LLC set a $160.00 price target on shares of L3 Technologies and gave the company a “hold” rating in a research note on Tuesday, March 14th. Finally, Deutsche Bank AG raised their price target on shares of L3 Technologies from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. L3 Technologies presently has an average rating of “Hold” and a consensus target price of $172.92.
In related news, insider Michael T. Strianese sold 22,547 shares of L3 Technologies stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $169.94, for a total transaction of $3,831,637.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ralph Dambrosio sold 8,000 shares of L3 Technologies stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $168.04, for a total transaction of $1,344,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,423 shares of company stock worth $13,027,269. 3.30% of the stock is currently owned by corporate insiders.
L3 Technologies Company Profile
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is engaged as a contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment (including modifications, logistics and maintenance), simulation and training, night vision and image intensification equipment, and security and detection systems.
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