BB&T Securities LLC reduced its position in L3 Technologies Inc (NYSE:LLL) by 5.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,421 shares of the aerospace company’s stock after selling 1,099 shares during the period. BB&T Securities LLC’s holdings in L3 Technologies were worth $3,734,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in L3 Technologies by 20.4% in the 1st quarter. JPMorgan Chase & Co. now owns 926,013 shares of the aerospace company’s stock valued at $192,612,000 after acquiring an additional 156,822 shares during the period. Koch Industries Inc. raised its stake in L3 Technologies by 36.5% in the 1st quarter. Koch Industries Inc. now owns 8,203 shares of the aerospace company’s stock valued at $1,706,000 after acquiring an additional 2,194 shares during the period. Oakbrook Investments LLC raised its stake in L3 Technologies by 99.8% in the 2nd quarter. Oakbrook Investments LLC now owns 6,525 shares of the aerospace company’s stock valued at $1,255,000 after acquiring an additional 3,260 shares during the period. Principal Financial Group Inc. raised its stake in L3 Technologies by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 432,479 shares of the aerospace company’s stock valued at $89,955,000 after acquiring an additional 5,132 shares during the period. Finally, Girard Partners LTD. raised its stake in L3 Technologies by 31.4% in the 2nd quarter. Girard Partners LTD. now owns 1,349 shares of the aerospace company’s stock valued at $259,000 after acquiring an additional 322 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.
A number of brokerages recently issued reports on LLL. ValuEngine cut L3 Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Credit Suisse Group boosted their price objective on L3 Technologies from $218.00 to $238.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded L3 Technologies from a “hold” rating to a “buy” rating and set a $237.00 price objective on the stock in a research note on Monday, July 30th. Jefferies Financial Group restated a “hold” rating and issued a $220.00 price objective on shares of L3 Technologies in a research note on Wednesday, July 11th. Finally, Cowen restated a “buy” rating and issued a $225.00 price objective on shares of L3 Technologies in a research note on Tuesday, July 3rd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $234.08.
Shares of LLL opened at $213.84 on Friday. L3 Technologies Inc has a twelve month low of $180.24 and a twelve month high of $218.71. The stock has a market cap of $16.25 billion, a PE ratio of 25.25, a P/E/G ratio of 2.23 and a beta of 1.23. The company has a current ratio of 1.82, a quick ratio of 1.49 and a debt-to-equity ratio of 0.60.
L3 Technologies (NYSE:LLL) last announced its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.17. L3 Technologies had a return on equity of 13.82% and a net margin of 8.74%. The firm had revenue of $2.58 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. sell-side analysts predict that L3 Technologies Inc will post 10.02 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 17th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Thursday, August 16th. L3 Technologies’s dividend payout ratio is presently 37.78%.
About L3 Technologies
L3 Technologies, Inc provides aerospace systems, communication, electronic, and sensor systems used on military, homeland security, and commercial platforms in the United States and internationally. It offers simulation and training, night vision and image intensification equipment, and security and detection systems; and components, products, subsystems, and systems, as well as related services to military and commercial customers in various business areas, such as total training solutions, power and propulsion systems, aviation products, precision engagement systems, and security and detection systems.
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