L3 Technologies Inc (LLL) Holdings Cut by Mackay Shields LLC
Mackay Shields LLC cut its stake in shares of L3 Technologies Inc (NYSE:LLL) by 24.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,701 shares of the aerospace company’s stock after selling 4,024 shares during the period. Mackay Shields LLC’s holdings in L3 Technologies were worth $2,442,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in LLL. Washington Capital Management Inc. acquired a new stake in L3 Technologies during the second quarter valued at $490,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in L3 Technologies by 2.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,260 shares of the aerospace company’s stock worth $3,127,000 after buying an additional 336 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in L3 Technologies by 7.5% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 12,865 shares of the aerospace company’s stock worth $2,474,000 after acquiring an additional 901 shares in the last quarter. Pzena Investment Management LLC grew its holdings in L3 Technologies by 1.7% during the 2nd quarter. Pzena Investment Management LLC now owns 170,909 shares of the aerospace company’s stock worth $32,869,000 after acquiring an additional 2,873 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in L3 Technologies by 31.9% during the 2nd quarter. Sei Investments Co. now owns 32,947 shares of the aerospace company’s stock worth $6,336,000 after acquiring an additional 7,970 shares in the last quarter. Institutional investors and hedge funds own 81.80% of the company’s stock.
LLL has been the subject of several research analyst reports. Zacks Investment Research cut shares of L3 Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. ValuEngine downgraded shares of L3 Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. UBS Group assumed coverage on shares of L3 Technologies in a research report on Wednesday, August 15th. They issued a “neutral” rating and a $230.00 price target for the company. Citigroup upped their price objective on shares of L3 Technologies from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 30th. Finally, Credit Suisse Group increased their price target on shares of L3 Technologies from $218.00 to $238.00 and gave the company an “outperform” rating in a report on Friday, July 27th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $234.08.
L3 Technologies (NYSE:LLL) last posted its quarterly earnings data on Thursday, July 26th. The aerospace company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.17. L3 Technologies had a net margin of 8.74% and a return on equity of 13.82%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $2.54 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. sell-side analysts forecast that L3 Technologies Inc will post 10.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 17th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Thursday, August 16th. L3 Technologies’s payout ratio is currently 37.78%.
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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