OppenheimerFunds Inc. lowered its stake in shares of L3 Technologies Inc (NYSE:LLL) by 32.7% in the second quarter, Holdings Channel reports. The fund owned 281,451 shares of the aerospace company’s stock after selling 137,032 shares during the quarter. OppenheimerFunds Inc.’s holdings in L3 Technologies were worth $54,129,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of L3 Technologies by 1.2% during the 1st quarter. BlackRock Inc. now owns 5,953,431 shares of the aerospace company’s stock valued at $1,238,314,000 after acquiring an additional 70,408 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of L3 Technologies by 10.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,869,999 shares of the aerospace company’s stock valued at $359,639,000 after acquiring an additional 172,277 shares during the last quarter. Ashler Capital LLC increased its stake in shares of L3 Technologies by 9.2% during the 2nd quarter. Ashler Capital LLC now owns 1,554,698 shares of the aerospace company’s stock valued at $299,000,000 after acquiring an additional 131,586 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of L3 Technologies by 13,429.5% during the 1st quarter. Summit Trail Advisors LLC now owns 1,065,987 shares of the aerospace company’s stock valued at $1,066,000 after acquiring an additional 1,058,108 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of L3 Technologies by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 926,330 shares of the aerospace company’s stock valued at $178,150,000 after acquiring an additional 2,379 shares during the last quarter. 81.80% of the stock is owned by institutional investors.

A number of research analysts have recently commented on the stock. ValuEngine downgraded shares of L3 Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Credit Suisse Group dropped their price objective on shares of L3 Technologies from $244.00 to $218.00 and set an “outperform” rating for the company in a research note on Tuesday, May 22nd. Cowen reaffirmed a “buy” rating and set a $225.00 price objective on shares of L3 Technologies in a research note on Tuesday, July 3rd. Zacks Investment Research raised shares of L3 Technologies from a “hold” rating to a “buy” rating and set a $237.00 price objective for the company in a research note on Monday, July 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $220.00 price objective on shares of L3 Technologies in a research note on Wednesday, July 11th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $234.08.

Shares of NYSE:LLL opened at $209.70 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.82 and a quick ratio of 1.49. L3 Technologies Inc has a 1 year low of $180.24 and a 1 year high of $218.71. The stock has a market cap of $16.45 billion, a PE ratio of 24.76, a PEG ratio of 2.26 and a beta of 1.24.

L3 Technologies (NYSE:LLL) last released its quarterly earnings results on Thursday, July 26th. The aerospace company reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.17. The firm had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.49 billion. L3 Technologies had a return on equity of 13.82% and a net margin of 8.74%. L3 Technologies’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 EPS. sell-side analysts forecast that L3 Technologies Inc will post 10.02 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 17th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, August 16th. L3 Technologies’s dividend payout ratio is presently 37.78%.

L3 Technologies Profile

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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Institutional Ownership by Quarter for L3 Technologies (NYSE:LLL)

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