Thrivent Financial for Lutherans reduced its holdings in L3 Technologies Inc (NYSE:LLL) by 67.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,978 shares of the aerospace company’s stock after selling 49,102 shares during the quarter. Thrivent Financial for Lutherans’ holdings in L3 Technologies were worth $4,164,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IMS Capital Management bought a new stake in L3 Technologies in the third quarter worth approximately $43,000. ERTS Wealth Advisors LLC bought a new stake in shares of L3 Technologies during the 4th quarter worth $40,000. Claybrook Capital LLC bought a new stake in shares of L3 Technologies during the 4th quarter worth $41,000. Riverview Trust Co bought a new stake in shares of L3 Technologies during the 4th quarter worth $45,000. Finally, Mosaic Family Wealth LLC boosted its holdings in shares of L3 Technologies by 36.1% during the 4th 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. Institutional investors and hedge funds own 82.57% of the company’s stock.
Several analysts recently issued reports on the stock. Cowen reaffirmed a “buy” rating and set a $250.00 price objective on shares of L3 Technologies in a report on Tuesday, January 29th. Zacks Investment Research downgraded shares of L3 Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Credit Suisse Group reiterated a “buy” rating and set a $229.00 target price on shares of L3 Technologies in a research note on Wednesday, January 23rd. Citigroup cut their target price on shares of L3 Technologies from $224.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, January 14th. Finally, ValuEngine cut shares of L3 Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, December 23rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $228.90.
L3 Technologies (NYSE:LLL) last announced its earnings results on Tuesday, January 29th. The aerospace company reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.44. L3 Technologies had a net margin of 9.81% and a return on equity of 15.27%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the company posted $2.25 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that L3 Technologies Inc will post 11.48 earnings per share for the current year.
In other news, insider Todd W. Gautier sold 7,438 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $205.69, for a total value of $1,529,922.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Todd W. Gautier sold 3,600 shares of the firm’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $214.86, for a total transaction of $773,496.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
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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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