Bank of Montreal Can trimmed its stake in L3 Technologies Inc (NYSE:LLL) by 17.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,160 shares of the aerospace company’s stock after selling 5,337 shares during the period. Bank of Montreal Can’s holdings in L3 Technologies were worth $5,191,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of LLL. Telos Capital Management Inc. purchased a new position in L3 Technologies during the 1st quarter worth $211,000. Cornell Pochily Investment Advisors Inc. grew its position in L3 Technologies by 12.9% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 1,750 shares of the aerospace company’s stock worth $304,000 after purchasing an additional 200 shares during the last quarter. Retirement Systems of Alabama grew its position in L3 Technologies by 1.6% during the 4th quarter. Retirement Systems of Alabama now owns 65,274 shares of the aerospace company’s stock worth $11,335,000 after purchasing an additional 1,048 shares during the last quarter. Essex Savings Bank purchased a new position in L3 Technologies during the 4th quarter worth $251,000. Finally, ETRADE Capital Management LLC grew its position in L3 Technologies by 8.5% during the 4th quarter. ETRADE Capital Management LLC now owns 3,817 shares of the aerospace company’s stock worth $663,000 after purchasing an additional 299 shares during the last quarter. 82.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:LLL opened at $235.15 on Friday. The stock has a market capitalization of $18.62 billion, a PE ratio of 21.87, a PEG ratio of 2.15 and a beta of 1.28. 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 fifty-two week low of $158.76 and a fifty-two week high of $236.76.
L3 Technologies (NYSE:LLL) last announced its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.52 by $0.37. L3 Technologies had a net margin of 9.64% and a return on equity of 15.50%. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts predict that L3 Technologies Inc will post 11.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, May 16th. L3 Technologies’s dividend payout ratio (DPR) is 31.63%.
In related news, insider Todd W. Gautier sold 7,438 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $205.69, for a total value of $1,529,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Todd W. Gautier sold 3,600 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $214.86, for a total transaction of $773,496.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
LLL has been the topic of several research reports. Zacks Investment Research downgraded shares of L3 Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Credit Suisse Group reissued a “buy” rating and set a $229.00 price objective on shares of L3 Technologies in a research report on Wednesday, January 23rd. Cowen reissued a “buy” rating and set a $250.00 price objective on shares of L3 Technologies in a research report on Tuesday, January 29th. Citigroup lowered their price objective on shares of L3 Technologies from $224.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, January 14th. Finally, SunTrust Banks raised shares of L3 Technologies to a “buy” rating and set a $265.00 price objective on the stock in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. L3 Technologies currently has a consensus rating of “Buy” and an average target price of $232.78.
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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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