L3 Technologies Inc (LLL) Shares Bought by American International Group Inc.
American International Group Inc. lifted its stake in L3 Technologies Inc (NYSE:LLL) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,744 shares of the aerospace company’s stock after acquiring an additional 3,423 shares during the period. American International Group Inc.’s holdings in L3 Technologies were worth $5,291,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Wedbush Securities Inc. lifted its position in L3 Technologies by 26.1% in the fourth quarter. Wedbush Securities Inc. now owns 1,673 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 346 shares during the period. Wetherby Asset Management Inc. bought a new position in L3 Technologies in the fourth quarter worth $210,000. Mariner Wealth Advisors LLC bought a new position in L3 Technologies in the fourth quarter worth $350,000. Tower Research Capital LLC TRC lifted its position in L3 Technologies by 772.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,117 shares of the aerospace company’s stock worth $221,000 after purchasing an additional 989 shares during the period. Finally, BlackRock Inc. lifted its position in L3 Technologies by 1.1% in the fourth quarter. BlackRock Inc. now owns 5,883,023 shares of the aerospace company’s stock worth $1,163,956,000 after purchasing an additional 65,962 shares during the period. Institutional investors and hedge funds own 77.80% of the company’s stock.
Several research analysts recently commented on the company. Zacks Investment Research raised L3 Technologies from a “hold” rating to a “buy” rating and set a $236.00 target price for the company in a research report on Tuesday, February 6th. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Cowen reaffirmed a “buy” rating and issued a $225.00 target price on shares of L3 Technologies in a research report on Friday, January 26th. SunTrust Banks raised their target price on L3 Technologies to $253.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $215.30.
L3 Technologies Inc (NYSE LLL) opened at $205.25 on Friday. The stock has a market capitalization of $16,040.00, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.58 and a beta of 1.23. L3 Technologies Inc has a twelve month low of $159.43 and a twelve month high of $218.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.71 and a current ratio of 1.87.
L3 Technologies (NYSE:LLL) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.05. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.55 billion. L3 Technologies had a return on equity of 13.63% and a net margin of 6.37%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the business earned $2.38 earnings per share. equities research analysts anticipate that L3 Technologies Inc will post 9.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, February 28th. This is a boost from L3 Technologies’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. L3 Technologies’s dividend payout ratio (DPR) is presently 37.74%.
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L3 Technologies Company Profile
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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