SRB Corp Takes $705,000 Position in L3 Technologies Inc (NYSE:LLL)

SRB Corp purchased a new stake in shares of L3 Technologies Inc (NYSE:LLL) in the 1st quarter, HoldingsChannel reports. The fund purchased 3,418 shares of the aerospace company’s stock, valued at approximately $705,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LLL. Telos Capital Management Inc. purchased a new position in L3 Technologies during the 1st quarter valued at about $211,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in L3 Technologies by 8.0% in 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 lifted 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 buying an additional 299 shares in the last quarter. Norinchukin Bank The lifted 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 buying an additional 4,340 shares in the last quarter. Finally, Fluent Financial LLC lifted its position in shares of L3 Technologies by 16.4% during the fourth quarter. Fluent Financial LLC now owns 4,998 shares of the aerospace company’s stock worth $868,000 after purchasing an additional 704 shares in the last quarter. 82.31% of the stock is owned by hedge funds and other institutional investors.

Shares of LLL stock traded up $1.86 on Friday, hitting $247.51. The company had a trading volume of 9,521 shares, compared to its average volume of 482,446. The stock has a market cap of $19.39 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 2.23 and a beta of 1.07. The company has a current ratio of 2.02, a quick ratio of 1.65 and a debt-to-equity ratio of 0.54. L3 Technologies Inc has a twelve month low of $158.76 and a twelve month high of $259.58.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 17th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Thursday, May 16th. L3 Technologies’s dividend payout ratio (DPR) is presently 31.63%.

Several analysts have weighed in on LLL shares. Barclays boosted their target price on shares of L3 Technologies from $245.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. ValuEngine raised shares of L3 Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. SunTrust Banks upgraded L3 Technologies to a “buy” rating and set a $265.00 target price on the stock in a report on Thursday, May 2nd. Credit Suisse Group increased their price objective on L3 Technologies from $232.00 to $258.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Cowen reiterated a “buy” rating and set a $250.00 price target on shares of L3 Technologies in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. L3 Technologies currently has a consensus rating of “Buy” and a consensus target price of $238.33.

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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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