CIBC Asset Management Inc increased its stake in shares of L3 Technologies Inc (NYSE:LLL) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,548 shares of the aerospace company’s stock after buying an additional 273 shares during the quarter. CIBC Asset Management Inc’s holdings in L3 Technologies were worth $1,558,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its position in shares of L3 Technologies by 6.2% during the 3rd quarter. Legal & General Group Plc now owns 396,858 shares of the aerospace company’s stock worth $84,407,000 after buying an additional 23,204 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of L3 Technologies by 857.8% during the 3rd quarter. Federated Investors Inc. PA now owns 26,157 shares of the aerospace company’s stock worth $5,561,000 after buying an additional 23,426 shares in the last quarter. Vanguard Group Inc raised its position in shares of L3 Technologies by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 8,734,137 shares of the aerospace company’s stock worth $1,857,051,000 after buying an additional 96,559 shares in the last quarter. BB&T Corp raised its position in shares of L3 Technologies by 8.6% during the 4th quarter. BB&T Corp now owns 3,337 shares of the aerospace company’s stock worth $579,000 after buying an additional 264 shares in the last quarter. Finally, Strs Ohio raised its position in shares of L3 Technologies by 36.2% during the 4th quarter. Strs Ohio now owns 15,802 shares of the aerospace company’s stock worth $2,744,000 after buying an additional 4,197 shares in the last quarter. Institutional investors and hedge funds own 82.50% of the company’s stock.
A number of analysts have commented on the stock. ValuEngine upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Credit Suisse Group boosted their price target on shares of L3 Technologies from $232.00 to $258.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. SunTrust Banks upgraded shares of L3 Technologies to a “buy” rating and set a $265.00 price target on the stock in a research report on Thursday, May 2nd. Cowen reiterated a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a report on Wednesday, May 1st. Finally, Barclays boosted their target price on shares of L3 Technologies from $245.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. L3 Technologies currently has a consensus rating of “Buy” and a consensus target price of $238.33.
L3 Technologies (NYSE:LLL) last released its earnings results on Wednesday, May 1st. The aerospace company reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.37. L3 Technologies had a net margin of 9.64% and a return on equity of 15.50%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the firm earned $2.34 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, research analysts expect that L3 Technologies Inc will post 11.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.43%. L3 Technologies’s payout ratio is currently 31.63%.
In related news, insider Todd W. Gautier sold 7,438 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $205.69, for a total value of $1,529,922.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by insiders.
About L3 Technologies
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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