L3 Technologies Inc (NYSE:LLL) declared a quarterly dividend on Monday, February 12th, RTT News reports. Investors of record on Thursday, March 1st will be given a dividend of 0.80 per share by the aerospace company on Thursday, March 15th. This represents a $3.20 dividend on an annualized basis and a yield of 1.57%. This is a boost from L3 Technologies’s previous quarterly dividend of $0.75.
L3 Technologies has raised its dividend by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 14 years. L3 Technologies has a payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect L3 Technologies to earn $10.68 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 28.1%.
L3 Technologies (NYSE LLL) traded up $1.93 during trading hours on Monday, reaching $204.44. The company had a trading volume of 587,614 shares, compared to its average volume of 754,882. The firm has a market capitalization of $15,970.00, a price-to-earnings ratio of 21.67, a P/E/G ratio of 2.57 and a beta of 1.26. L3 Technologies has a 1 year low of $159.43 and a 1 year high of $218.71. The company has a current ratio of 1.89, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65.
A number of research firms recently issued reports on LLL. Cowen reaffirmed a “buy” rating and set a $225.00 target price on shares of L3 Technologies in a report on Friday, January 26th. SunTrust Banks lifted their target price on L3 Technologies to $253.00 and gave the stock a “buy” rating in a report on Friday, January 26th. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $250.00 target price on shares of L3 Technologies in a report on Wednesday, January 24th. Finally, Bank of America raised L3 Technologies from a “neutral” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Wednesday, January 17th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $215.30.
In related news, insider Michael T. Strianese sold 22,545 shares of L3 Technologies stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $196.26, for a total value of $4,424,681.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 259,635 shares of company stock worth $53,575,810 in the last three months. 2.90% of the stock is currently owned by company insiders.
About L3 Technologies
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems. The Company provides a broad range of communication and electronic systems and products used on military and commercial platforms.
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