Peapack Gladstone Financial Corp Boosts Stake in L3 Technologies Inc (NYSE:LLL)
Peapack Gladstone Financial Corp increased its position in shares of L3 Technologies Inc (NYSE:LLL) by 345.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,821 shares of the aerospace company’s stock after acquiring an additional 4,514 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in L3 Technologies were worth $1,120,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mount Yale Investment Advisors LLC bought a new stake in shares of L3 Technologies during the first quarter valued at approximately $113,000. Institutional & Family Asset Management LLC purchased a new position in shares of L3 Technologies during the 1st quarter worth $129,000. Cornerstone Wealth Management LLC purchased a new position in shares of L3 Technologies during the 2nd quarter worth $166,000. Bray Capital Advisors purchased a new position in shares of L3 Technologies during the 1st quarter worth $177,000. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of L3 Technologies during the 2nd quarter worth $177,000. Institutional investors and hedge funds own 81.80% of the company’s stock.
Shares of LLL traded up $2.33 during trading hours on Friday, reaching $216.17. 409,387 shares of the stock traded hands, compared to its average volume of 409,845. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.49 and a current ratio of 1.82. L3 Technologies Inc has a 52-week low of $180.24 and a 52-week high of $218.71. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.25 and a beta of 1.23.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 17th will be issued a $0.80 dividend. The ex-dividend date is Thursday, August 16th. This represents a $3.20 dividend on an annualized basis and a yield of 1.48%. L3 Technologies’s dividend payout ratio is currently 37.78%.
Several research analysts have recently weighed in on LLL shares. Credit Suisse Group dropped their price target on shares of L3 Technologies from $244.00 to $218.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 22nd. ValuEngine cut shares of L3 Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Cowen restated a “buy” rating and set a $225.00 target price on shares of L3 Technologies in a research note on Tuesday, July 3rd. Jefferies Financial Group restated a “hold” rating and set a $220.00 target price on shares of L3 Technologies in a research note on Wednesday, July 11th. Finally, Zacks Investment Research cut shares of L3 Technologies from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 15th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. L3 Technologies presently has an average rating of “Buy” and a consensus price target of $234.08.
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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