State Treasurer State of Michigan boosted its holdings in shares of L3 Technologies Inc (NYSE:LLL) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,896 shares of the aerospace company’s stock after purchasing an additional 400 shares during the period. State Treasurer State of Michigan’s holdings in L3 Technologies were worth $4,725,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LLL. Norges Bank bought a new position in L3 Technologies during the fourth quarter worth about $129,509,000. Alpine Associates Management Inc. bought a new position in L3 Technologies during the fourth quarter worth about $105,794,000. Water Island Capital LLC lifted its stake in L3 Technologies by 547.9% during the first quarter. Water Island Capital LLC now owns 465,501 shares of the aerospace company’s stock worth $96,065,000 after purchasing an additional 393,654 shares during the period. IndexIQ Advisors LLC bought a new position in L3 Technologies during the fourth quarter worth about $52,863,000. Finally, Two Sigma Investments LP lifted its stake in L3 Technologies by 255.6% during the fourth quarter. Two Sigma Investments LP now owns 298,975 shares of the aerospace company’s stock worth $51,920,000 after purchasing an additional 214,899 shares during the period. Hedge funds and other institutional investors own 82.50% of the company’s stock.
LLL stock traded up $1.31 during trading on Friday, hitting $239.62. The company had a trading volume of 55,636 shares, compared to its average volume of 529,352. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.02 and a quick ratio of 1.65. L3 Technologies Inc has a 12 month low of $158.76 and a 12 month high of $239.50. The stock has a market capitalization of $18.84 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.17 and a beta of 1.28.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Thursday, May 16th. L3 Technologies’s dividend payout ratio is presently 31.63%.
In other L3 Technologies news, insider Todd W. Gautier sold 7,438 shares of L3 Technologies stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,529,922.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by insiders.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of L3 Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Cowen reiterated a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a research note on Wednesday, May 1st. Credit Suisse Group lifted their target price on shares of L3 Technologies from $232.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. SunTrust Banks upgraded shares of L3 Technologies to a “buy” rating and set a $265.00 target price for the company in a research note on Thursday, May 2nd. Finally, ValuEngine upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. L3 Technologies has a consensus rating of “Buy” and an average price target of $238.33.
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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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