Mackay Shields LLC decreased its position in L3 Technologies Inc (NYSE:LLL) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,629 shares of the aerospace company’s stock after selling 864 shares during the quarter. Mackay Shields LLC’s holdings in L3 Technologies were worth $2,019,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. IMS Capital Management bought a new position in L3 Technologies in the third quarter valued at about $43,000. ERTS Wealth Advisors LLC bought a new position in shares of L3 Technologies in the fourth quarter worth about $40,000. Claybrook Capital LLC bought a new position in shares of L3 Technologies in the fourth quarter worth about $41,000. Riverview Trust Co bought a new position in shares of L3 Technologies in the fourth quarter worth about $45,000. Finally, Mosaic Family Wealth LLC raised its stake in shares of L3 Technologies by 36.1% in the fourth quarter. Mosaic Family Wealth LLC now owns 264 shares of the aerospace company’s stock worth $46,000 after buying an additional 70 shares during the period. 82.58% of the stock is currently owned by institutional investors.
LLL has been the topic of several recent research reports. Zacks Investment Research downgraded L3 Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Credit Suisse Group reaffirmed a “buy” rating and issued a $229.00 price objective on shares of L3 Technologies in a research note on Wednesday, January 23rd. Cowen reaffirmed a “buy” rating and issued a $250.00 price objective on shares of L3 Technologies in a research note on Tuesday, January 29th. Citigroup decreased their price objective on L3 Technologies from $224.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, January 14th. Finally, ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $228.90.
L3 Technologies (NYSE:LLL) last issued its earnings results on Tuesday, January 29th. The aerospace company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.44. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.68 billion. L3 Technologies had a return on equity of 15.27% and a net margin of 9.81%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $2.25 EPS. Equities research analysts predict that L3 Technologies Inc will post 11.5 earnings per share for the current year.
In other L3 Technologies news, insider Todd W. Gautier sold 7,438 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,529,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.40% of the company’s stock.
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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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