L3 Technologies Inc (NYSE:LLL) – SunTrust Banks lifted their FY2018 EPS estimates for L3 Technologies in a note issued to investors on Monday. SunTrust Banks analyst M. Ciarmoli now anticipates that the aerospace company will post earnings per share of $9.61 for the year, up from their prior forecast of $8.91. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for L3 Technologies’ FY2019 earnings at $10.69 EPS.
LLL has been the subject of several other research reports. Stifel Nicolaus raised their target price on shares of L3 Technologies from $195.00 to $205.00 and gave the stock a “hold” rating in a report on Friday, October 27th. Zacks Investment Research raised shares of L3 Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Bank of America raised their target price on shares of L3 Technologies from $185.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 10th. Royal Bank of Canada reissued a “hold” rating on shares of L3 Technologies in a report on Sunday, October 8th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of L3 Technologies in a report on Thursday, December 7th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. L3 Technologies has an average rating of “Buy” and a consensus target price of $195.20.
L3 Technologies (LLL) traded up $2.99 during midday trading on Wednesday, hitting $209.46. 585,891 shares of the company’s stock were exchanged, compared to its average volume of 652,399. The stock has a market capitalization of $16,370.00, a PE ratio of 28.81, a P/E/G ratio of 3.33 and a beta of 1.19. L3 Technologies has a fifty-two week low of $145.54 and a fifty-two week high of $209.98. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66.
L3 Technologies (NYSE:LLL) last posted its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.03. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.68 billion. L3 Technologies had a net margin of 5.22% and a return on equity of 14.00%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $1.88 earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia increased its holdings in L3 Technologies by 7,891.7% in the second quarter. Commonwealth Bank of Australia now owns 3,836 shares of the aerospace company’s stock valued at $639,000 after buying an additional 3,788 shares in the last quarter. Royal Bank of Canada increased its holdings in L3 Technologies by 102.8% in the second quarter. Royal Bank of Canada now owns 58,870 shares of the aerospace company’s stock valued at $9,836,000 after buying an additional 29,845 shares in the last quarter. Engineers Gate Manager LP purchased a new position in L3 Technologies in the second quarter valued at $933,000. Private Advisor Group LLC increased its holdings in L3 Technologies by 27.4% in the second quarter. Private Advisor Group LLC now owns 4,605 shares of the aerospace company’s stock valued at $783,000 after buying an additional 990 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new position in L3 Technologies in the third quarter valued at $1,598,000. 78.53% of the stock is owned by institutional investors.
In related news, insider Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $186.40, for a total transaction of $4,202,760.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 124,122 shares of company stock valued at $24,409,338. 2.90% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.43%. L3 Technologies’s dividend payout ratio (DPR) is presently 41.27%.
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About L3 Technologies
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems. The Company provides a broad range of communication and electronic systems and products used on military and commercial platforms.
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