Lake Point Wealth Management Purchases Shares of 889 L3 Technologies Inc (LLL)

Lake Point Wealth Management acquired a new stake in L3 Technologies Inc (NYSE:LLL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 889 shares of the aerospace company’s stock, valued at approximately $154,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of L3 Technologies by 8.5% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 653 shares of the aerospace company’s stock valued at $113,000 after acquiring an additional 51 shares in the last quarter. First Commonwealth Financial Corp PA raised its stake in shares of L3 Technologies by 2.9% in the fourth quarter. First Commonwealth Financial Corp PA now owns 2,190 shares of the aerospace company’s stock valued at $380,000 after acquiring an additional 62 shares in the last quarter. 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 valued at $46,000 after acquiring an additional 70 shares in the last quarter. River Wealth Advisors LLC raised its stake in shares of L3 Technologies by 16.1% in the fourth quarter. River Wealth Advisors LLC now owns 540 shares of the aerospace company’s stock valued at $94,000 after acquiring an additional 75 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in shares of L3 Technologies by 5.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,954 shares of the aerospace company’s stock valued at $339,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.

Shares of LLL traded down $0.33 during midday trading on Friday, reaching $214.67. 454,909 shares of the stock were exchanged, compared to its average volume of 374,799. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.61 and a current ratio of 1.97. L3 Technologies Inc has a twelve month low of $158.76 and a twelve month high of $223.73. The stock has a market capitalization of $17.04 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 2.01 and a beta of 1.27.

L3 Technologies (NYSE:LLL) last posted its earnings results on Tuesday, January 29th. The aerospace company reported $3.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.66 by $0.44. L3 Technologies had a return on equity of 15.27% and a net margin of 9.81%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that L3 Technologies Inc will post 11.48 EPS for the current fiscal year.

In other news, insider Todd W. Gautier sold 7,438 shares of L3 Technologies stock in a transaction dated 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 SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

Several analysts have recently issued reports on LLL shares. Zacks Investment Research cut L3 Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Credit Suisse Group restated a “buy” rating and issued a $229.00 price target on shares of L3 Technologies in a research note on Wednesday, January 23rd. Cowen restated a “buy” rating and issued a $250.00 price target on shares of L3 Technologies in a research note on Tuesday, January 29th. Citigroup cut their price target 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 cut L3 Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, December 23rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $228.90.

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

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