Other equities analysts have also recently issued research reports about the company. Robert W. Baird restated an outperform rating and set a $184.00 price objective on shares of L3 Technologies in a report on Friday, January 20th. Zacks Investment Research upgraded L3 Technologies from a hold rating to a buy rating and set a $189.00 price objective for the company in a report on Tuesday, February 28th. Jefferies Group LLC set a $160.00 price objective on L3 Technologies and gave the company a hold rating in a report on Tuesday, March 14th. Stifel Nicolaus boosted their price objective on L3 Technologies from $162.00 to $170.00 and gave the company a hold rating in a report on Friday, January 27th. Finally, Deutsche Bank AG boosted their price objective on L3 Technologies from $160.00 to $175.00 and gave the company a buy rating in a report on Monday, December 5th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $169.36.
L3 Technologies (NYSE:LLL) traded down 1.163% during trading on Friday, reaching $164.979. The company’s stock had a trading volume of 169,799 shares. The company has a market capitalization of $12.84 billion, a P/E ratio of 18.313 and a beta of 1.09. The firm’s 50-day moving average price is $167.15 and its 200 day moving average price is $154.92. L3 Technologies has a 12-month low of $116.97 and a 12-month high of $171.24.
L3 Technologies (NYSE:LLL) last released its earnings results on Thursday, January 26th. The company reported $2.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.27. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.78 billion. L3 Technologies had a return on equity of 14.16% and a net margin of 6.75%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. On average, analysts predict that L3 Technologies will post $8.61 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.80%. This is a boost from L3 Technologies’s previous quarterly dividend of $0.70. The ex-dividend date was Monday, February 27th. L3 Technologies’s dividend payout ratio is currently 31.08%.
In other L3 Technologies news, Chairman Michael T. Strianese sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $152.62, for a total value of $3,052,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Azmon sold 1,782 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $168.91, for a total value of $300,997.62. The disclosure for this sale can be found here. Insiders sold a total of 80,981 shares of company stock valued at $13,093,878 over the last quarter. Company insiders own 3.30% of the company’s stock.
Several large investors have recently modified their holdings of LLL. Kentucky Retirement Systems bought a new stake in shares of L3 Technologies during the second quarter worth $960,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of L3 Technologies during the second quarter worth $456,000. Creative Planning boosted its stake in shares of L3 Technologies by 33.2% in the third quarter. Creative Planning now owns 2,891 shares of the company’s stock worth $436,000 after buying an additional 720 shares during the period. Capstone Asset Management Co. boosted its stake in shares of L3 Technologies by 2.0% in the third quarter. Capstone Asset Management Co. now owns 6,070 shares of the company’s stock worth $915,000 after buying an additional 120 shares during the period. Finally, Gulf International Bank UK Ltd boosted its stake in shares of L3 Technologies by 0.3% in the third quarter. Gulf International Bank UK Ltd now owns 24,298 shares of the company’s stock worth $3,662,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 78.91% of the company’s stock.
About L3 Technologies
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is engaged as a contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment (including modifications, logistics and maintenance), simulation and training, night vision and image intensification equipment, and security and detection systems.
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