Palisade Asset Management LLC raised its stake in shares of L3 Technologies Inc (NYSE:LLL) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,149 shares of the aerospace company’s stock after buying an additional 2,369 shares during the period. Palisade Asset Management LLC’s holdings in L3 Technologies were worth $9,230,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of LLL. IMS Capital Management acquired a new stake in shares of L3 Technologies during the 3rd quarter valued at $43,000. CX Institutional acquired a new stake in shares of L3 Technologies during the 4th quarter valued at $94,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of L3 Technologies during the 3rd quarter valued at $122,000. Point72 Hong Kong Ltd boosted its stake in shares of L3 Technologies by 2,067.9% during the 3rd quarter. Point72 Hong Kong Ltd now owns 607 shares of the aerospace company’s stock valued at $129,000 after buying an additional 579 shares during the period. Finally, NEXT Financial Group Inc acquired a new stake in shares of L3 Technologies during the 3rd quarter valued at $134,000. 79.97% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on LLL shares. Credit Suisse Group lifted their target price on shares of L3 Technologies from $238.00 to $272.00 and gave the company an “outperform” rating in a research note on Monday, October 15th. SunTrust Banks lifted their target price on shares of L3 Technologies to $268.00 and gave the company a “buy” rating in a research note on Tuesday, October 16th. JPMorgan Chase & Co. lowered shares of L3 Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $245.00 to $240.00 in a research note on Friday, November 2nd. Zacks Investment Research raised shares of L3 Technologies from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research note on Monday, October 1st. Finally, Citigroup decreased 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. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $232.92.
L3 Technologies (NYSE:LLL) last released its quarterly earnings results on Monday, October 15th. The aerospace company reported $2.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.85. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.50 billion. L3 Technologies had a net margin of 10.64% and a return on equity of 14.71%. L3 Technologies’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 EPS. On average, equities research analysts predict that L3 Technologies Inc will post 10.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 16th were issued a dividend of $0.80 per share. The ex-dividend date was Thursday, November 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.82%. L3 Technologies’s dividend payout ratio is currently 37.78%.
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About L3 Technologies
L3 Technologies, Inc provides aerospace systems, communication, electronic, and sensor systems used on military, homeland security, and commercial platforms in the United States and internationally. It offers simulation and training, night vision and image intensification equipment, and security and detection systems; and components, products, subsystems, and systems, as well as related services to military and commercial customers in various business areas, such as total training solutions, power and propulsion systems, aviation products, precision engagement systems, and security and detection systems.
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