Rhumbline Advisers lessened its holdings in shares of L3 Technologies Inc (NYSE:LLL) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 131,747 shares of the aerospace company’s stock after selling 3,590 shares during the quarter. Rhumbline Advisers’ holdings in L3 Technologies were worth $28,012,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC raised its holdings in shares of L3 Technologies by 10.1% during the second quarter. Janus Henderson Group PLC now owns 1,869,999 shares of the aerospace company’s stock valued at $359,639,000 after buying an additional 172,277 shares during the last quarter. Ashler Capital LLC raised its holdings in shares of L3 Technologies by 9.2% during the second quarter. Ashler Capital LLC now owns 1,554,698 shares of the aerospace company’s stock valued at $299,000,000 after buying an additional 131,586 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of L3 Technologies by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 926,330 shares of the aerospace company’s stock valued at $178,150,000 after buying an additional 2,379 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of L3 Technologies by 0.8% during the third quarter. Wells Fargo & Company MN now owns 697,447 shares of the aerospace company’s stock valued at $148,292,000 after buying an additional 5,284 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of L3 Technologies by 32.3% during the second quarter. American Century Companies Inc. now owns 640,665 shares of the aerospace company’s stock valued at $123,213,000 after buying an additional 156,357 shares during the last quarter. 81.51% of the stock is currently owned by institutional investors.

L3 Technologies stock opened at $185.53 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.56 and a current ratio of 1.96. L3 Technologies Inc has a 12 month low of $180.24 and a 12 month high of $223.73. The firm has a market cap of $14.76 billion, a PE ratio of 21.90, a P/E/G ratio of 1.50 and a beta of 1.27.

L3 Technologies (NYSE:LLL) last posted its quarterly earnings results on Monday, October 15th. The aerospace company reported $2.85 EPS for the quarter, meeting the consensus estimate of $2.85. L3 Technologies had a net margin of 10.64% and a return on equity of 14.71%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the company posted $1.96 EPS. L3 Technologies’s revenue was up 9.9% on a year-over-year basis. As a group, equities analysts expect that L3 Technologies Inc will post 10.33 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 16th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Thursday, November 15th. L3 Technologies’s payout ratio is presently 37.78%.

LLL has been the topic of several recent analyst reports. ValuEngine raised L3 Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 31st. Credit Suisse Group boosted their target price on L3 Technologies from $218.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. Citigroup boosted their target price on L3 Technologies from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 30th. Jefferies Financial Group reissued a “hold” rating and set a $222.00 target price on shares of L3 Technologies in a report on Friday, July 27th. Finally, UBS Group assumed coverage on L3 Technologies in a report on Wednesday, August 15th. They set a “neutral” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $241.17.

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L3 Technologies Company Profile

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.

Further Reading: What is the Coverage Ratio?

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Institutional Ownership by Quarter for L3 Technologies (NYSE:LLL)

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