Texas Permanent School Fund Sells 427 Shares of L3 Technologies Inc (LLL)

Texas Permanent School Fund cut its stake in L3 Technologies Inc (NYSE:LLL) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,732 shares of the aerospace company’s stock after selling 427 shares during the period. Texas Permanent School Fund’s holdings in L3 Technologies were worth $3,757,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LLL. Principal Financial Group Inc. raised its stake in shares of L3 Technologies by 27.2% in the third quarter. Principal Financial Group Inc. now owns 153,088 shares of the aerospace company’s stock valued at $23,075,000 after buying an additional 32,747 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in shares of L3 Technologies by 28.6% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 2,700 shares of the aerospace company’s stock valued at $407,000 after buying an additional 600 shares during the period. Investment Counsel Inc. raised its stake in shares of L3 Technologies by 38.9% in the third quarter. Investment Counsel Inc. now owns 3,754 shares of the aerospace company’s stock valued at $566,000 after buying an additional 1,051 shares during the period. Suntrust Banks Inc. raised its stake in shares of L3 Technologies by 64.3% in the third quarter. Suntrust Banks Inc. now owns 3,857 shares of the aerospace company’s stock valued at $581,000 after buying an additional 1,510 shares during the period. Finally, CG Asset Management LLC raised its stake in shares of L3 Technologies by 12.6% in the third quarter. CG Asset Management LLC now owns 23,815 shares of the aerospace company’s stock valued at $3,590,000 after buying an additional 2,670 shares during the period. 78.91% of the stock is owned by institutional investors.

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

L3 Technologies Inc (NYSE:LLL) traded up 1.25% on Friday, reaching $162.70. The company’s stock had a trading volume of 752,309 shares. L3 Technologies Inc has a one year low of $132.38 and a one year high of $179.95. The stock has a market cap of $12.64 billion, a P/E ratio of 19.84 and a beta of 1.09. The stock has a 50-day moving average of $166.94 and a 200-day moving average of $159.96.

L3 Technologies (NYSE:LLL) last issued its quarterly earnings results on Thursday, April 27th. The aerospace company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.26. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.45 billion. L3 Technologies had a return on equity of 14.16% and a net margin of 6.75%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.08 earnings per share. On average, analysts predict that L3 Technologies Inc will post $8.74 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 19th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, May 17th. L3 Technologies’s payout ratio is 31.08%.

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Several equities research analysts recently weighed in on the company. Barclays PLC lowered L3 Technologies from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $165.00 to $175.00 in a report on Monday, May 1st. Jefferies Group LLC reissued a “hold” rating and issued a $170.00 price objective (up previously from $160.00) on shares of L3 Technologies in a report on Saturday, April 29th. Deutsche Bank AG lifted their price objective on L3 Technologies from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Zacks Investment Research raised L3 Technologies from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a report on Tuesday, February 28th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $159.00 price objective on shares of L3 Technologies in a report on Friday, March 24th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. L3 Technologies presently has a consensus rating of “Hold” and a consensus price target of $172.92.

In related news, insider Dan Azmon sold 1,782 shares of the stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $168.91, for a total transaction of $300,997.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $169.98, for a total value of $3,832,539.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,423 shares of company stock valued at $13,027,269. Company insiders own 3.30% of the company’s stock.

About L3 Technologies

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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