MML Investors Services LLC Sells 1,653 Shares of L3 Technologies Inc (LLL)
MML Investors Services LLC lessened its stake in L3 Technologies Inc (NYSE:LLL) by 53.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,428 shares of the aerospace company’s stock after selling 1,653 shares during the period. MML Investors Services LLC’s holdings in L3 Technologies were worth $282,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in LLL. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in L3 Technologies in the 4th quarter worth approximately $107,000. Invictus RG purchased a new stake in L3 Technologies in the 3rd quarter worth approximately $135,000. NewSquare Capital LLC boosted its position in L3 Technologies by 2,510.7% in the 4th quarter. NewSquare Capital LLC now owns 731 shares of the aerospace company’s stock worth $145,000 after purchasing an additional 703 shares in the last quarter. Parallel Advisors LLC boosted its position in L3 Technologies by 56.5% in the 3rd quarter. Parallel Advisors LLC now owns 961 shares of the aerospace company’s stock worth $178,000 after purchasing an additional 347 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its position in L3 Technologies by 53.8% in the 3rd quarter. NEXT Financial Group Inc now owns 1,012 shares of the aerospace company’s stock worth $190,000 after purchasing an additional 354 shares in the last quarter. Institutional investors and hedge funds own 79.90% of the company’s stock.
In related news, insider Michael T. Strianese sold 39,515 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $202.35, for a total value of $7,995,860.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dan Azmon sold 1,772 shares of the stock in a transaction on Monday, March 5th. The shares were sold at an average price of $203.82, for a total value of $361,169.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 477,498 shares of company stock valued at $98,952,848. 2.90% of the stock is owned by corporate insiders.
L3 Technologies (NYSE:LLL) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.30 by $0.05. L3 Technologies had a return on equity of 13.63% and a net margin of 6.37%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the company earned $2.38 EPS. The firm’s revenue was down 2.6% compared to the same quarter last year. equities analysts predict that L3 Technologies Inc will post 9.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a $0.80 dividend. This is an increase from L3 Technologies’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.55%. The ex-dividend date was Wednesday, February 28th. L3 Technologies’s dividend payout ratio is currently 37.60%.
A number of brokerages have recently issued reports on LLL. Zacks Investment Research upgraded L3 Technologies from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research report on Tuesday, February 6th. Stifel Nicolaus reiterated a “hold” rating and set a $215.00 target price on shares of L3 Technologies in a research report on Wednesday, December 6th. ValuEngine upgraded L3 Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Cowen reiterated a “buy” rating and set a $210.00 target price on shares of L3 Technologies in a research report on Wednesday, December 6th. Finally, Bank of America upgraded L3 Technologies from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a research report on Wednesday, January 17th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. L3 Technologies has an average rating of “Buy” and an average target price of $215.30.
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L3 Technologies Company Profile
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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