Fmr LLC Purchases 189,027 Shares of L3 Technologies Inc (LLL)
Fmr LLC lifted its position in shares of L3 Technologies Inc (NYSE:LLL) by 246.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 265,865 shares of the aerospace company’s stock after acquiring an additional 189,027 shares during the period. Fmr LLC’s holdings in L3 Technologies were worth $46,170,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in LLL. Alpine Associates Management Inc. bought a new position in shares of L3 Technologies during the fourth quarter worth about $105,794,000. IndexIQ Advisors LLC bought a new position in shares of L3 Technologies during the fourth quarter worth about $52,863,000. Two Sigma Investments LP grew its position in shares of L3 Technologies by 255.6% during the fourth quarter. Two Sigma Investments LP now owns 298,975 shares of the aerospace company’s stock worth $51,920,000 after acquiring an additional 214,899 shares during the last quarter. Ceredex Value Advisors LLC grew its position in shares of L3 Technologies by 53.8% during the fourth quarter. Ceredex Value Advisors LLC now owns 551,925 shares of the aerospace company’s stock worth $95,847,000 after acquiring an additional 193,100 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in shares of L3 Technologies by 483.4% during the fourth quarter. Bank of Nova Scotia now owns 226,902 shares of the aerospace company’s stock worth $39,402,000 after acquiring an additional 188,007 shares during the last quarter. Institutional investors and hedge funds own 82.57% of the company’s stock.
In other news, insider Todd W. Gautier sold 7,438 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,529,922.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
L3 Technologies (NYSE:LLL) last announced its earnings results on Tuesday, January 29th. The aerospace company reported $3.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.44. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.68 billion. L3 Technologies had a net margin of 9.81% and a return on equity of 15.27%. L3 Technologies’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 EPS. Equities research analysts expect that L3 Technologies Inc will post 11.5 EPS for the current fiscal year.
A number of brokerages recently issued reports on LLL. Zacks Investment Research lowered shares of L3 Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. ValuEngine lowered shares of L3 Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, December 23rd. Cowen reiterated a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a research report on Tuesday, January 29th. Citigroup decreased their target price on shares of L3 Technologies from $224.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, January 14th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $229.00 target price on shares of L3 Technologies in a research report on Wednesday, January 23rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. L3 Technologies has an average rating of “Buy” and a consensus target price of $228.90.
About L3 Technologies
L3 Technologies, Inc provides aircraft sustainment, simulation and training, night vision and image intensification equipment, and security and detection systems used on military, homeland security, and commercial platforms in the United States and internationally. It operates in three segments: Intelligence, Surveillance and Reconnaissance (ISR) Systems; Communications and Networked Systems (C&NS); and Electronic Systems.
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