Meiji Yasuda Asset Management Co Ltd. lowered its stake in L3 Technologies Inc (NYSE:LLL) by 3.1% during the 1st quarter, HoldingsChannel reports. The fund owned 4,054 shares of the aerospace company’s stock after selling 130 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in L3 Technologies were worth $837,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Telos Capital Management Inc. purchased a new position in shares of L3 Technologies in the 1st quarter worth about $211,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in L3 Technologies by 8.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,637 shares of the aerospace company’s stock worth $957,000 after buying an additional 344 shares during the last quarter. ETRADE Capital Management LLC raised its position in L3 Technologies by 8.5% in the 4th quarter. ETRADE Capital Management LLC now owns 3,817 shares of the aerospace company’s stock worth $663,000 after buying an additional 299 shares during the last quarter. Norinchukin Bank The raised its position in L3 Technologies by 43.1% in the 4th quarter. Norinchukin Bank The now owns 14,407 shares of the aerospace company’s stock worth $2,502,000 after buying an additional 4,340 shares during the last quarter. Finally, Fluent Financial LLC raised its position in L3 Technologies by 16.4% in the 4th quarter. Fluent Financial LLC now owns 4,998 shares of the aerospace company’s stock worth $868,000 after buying an additional 704 shares during the last quarter. Institutional investors and hedge funds own 82.31% of the company’s stock.
A number of equities analysts have weighed in on LLL shares. Cowen reissued a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a research report on Wednesday, May 1st. Credit Suisse Group boosted their target price on L3 Technologies from $232.00 to $258.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. SunTrust Banks raised L3 Technologies to a “buy” rating and set a $265.00 target price for the company in a research report on Thursday, May 2nd. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, Barclays boosted their target price on L3 Technologies from $245.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $238.33.
L3 Technologies (NYSE:LLL) last released its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.52 by $0.37. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.53 billion. L3 Technologies had a return on equity of 15.50% and a net margin of 9.64%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 EPS. On average, sell-side analysts expect that L3 Technologies Inc will post 11.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.38%. L3 Technologies’s dividend payout ratio is currently 31.63%.
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L3 Technologies Company Profile
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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