Envestnet Asset Management Inc. Buys Shares of 16,360 L3 Technologies Inc (LLL)

Envestnet Asset Management Inc. Buys Shares of 16,360 L3 Technologies Inc (LLL)

A number of other hedge funds have also modified their holdings of LLL. State Street Corp increased its position in L3 Technologies by 5.1% in the fourth quarter. State Street Corp now owns 3,545,471 shares of the aerospace company’s stock worth $539,290,000 after buying an additional 171,155 shares during the period. AQR Capital Management LLC increased its position in L3 Technologies by 14.7% in the fourth quarter. AQR Capital Management LLC now owns 2,098,142 shares of the aerospace company’s stock worth $319,148,000 after buying an additional 268,870 shares during the period. Bank of New York Mellon Corp increased its position in L3 Technologies by 32.0% in the first quarter. Bank of New York Mellon Corp now owns 1,475,754 shares of the aerospace company’s stock worth $243,927,000 after buying an additional 357,856 shares during the period. Boston Partners increased its position in L3 Technologies by 1,210.5% in the first quarter. Boston Partners now owns 1,170,837 shares of the aerospace company’s stock worth $193,527,000 after buying an additional 1,081,494 shares during the period. Finally, Wells Fargo & Company MN increased its position in L3 Technologies by 1.5% in the first quarter. Wells Fargo & Company MN now owns 859,635 shares of the aerospace company’s stock worth $142,091,000 after buying an additional 12,728 shares during the period. Institutional investors and hedge funds own 78.91% of the company’s stock.

Envestnet Asset Management Inc. bought a new stake in shares of L3 Technologies Inc (NYSE:LLL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,360 shares of the aerospace company’s stock, valued at approximately $2,702,000.

L3 Technologies Inc (LLL) traded up 1.47% during midday trading on Wednesday, reaching $168.59. The company’s stock had a trading volume of 640,389 shares. L3 Technologies Inc has a one year low of $132.38 and a one year high of $179.95. The stock’s 50 day moving average price is $167.14 and its 200-day moving average price is $161.71. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 20.56 and a beta of 1.09.

L3 Technologies (NYSE:LLL) last issued its quarterly earnings data on Thursday, April 27th. The aerospace company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.26. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.45 billion. L3 Technologies had a net margin of 6.75% and a return on equity of 14.16%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.08 earnings per share. On average, analysts forecast that L3 Technologies Inc will post $8.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 19th will be given a $0.75 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.78%. L3 Technologies’s dividend payout ratio (DPR) is currently 31.08%.

LLL has been the topic of a number of research reports. Zacks Investment Research upgraded L3 Technologies from a “hold” rating to a “buy” rating and set a $187.00 price target on the stock in a research note on Wednesday, March 29th. Royal Bank of Canada restated a “hold” rating and issued a $159.00 price target on shares of L3 Technologies in a research note on Friday, March 24th. Jefferies Group LLC set a $160.00 price target on L3 Technologies and gave the stock a “hold” rating in a research note on Tuesday, March 14th. Deutsche Bank AG raised their price target on L3 Technologies from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Finally, Barclays PLC downgraded L3 Technologies from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $165.00 to $175.00 in a research note on Monday, May 1st. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. L3 Technologies currently has an average rating of “Hold” and a consensus price target of $174.67.

In other L3 Technologies news, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $169.98, for a total value of $3,832,539.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.30% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LLL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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