L3 Technologies (NYSE:LLL) announced a quarterly dividend on Tuesday, May 8th, RTT News reports. Investors of record on Friday, May 18th will be paid a dividend of 0.80 per share by the aerospace company on Friday, June 15th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, May 17th.
L3 Technologies has raised its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 14 years. L3 Technologies has a dividend payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Analysts expect L3 Technologies to earn $10.90 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 27.5%.
Shares of L3 Technologies opened at $192.03 on Wednesday, Marketbeat Ratings reports. The stock has a market cap of $15.06 billion, a P/E ratio of 22.67, a PEG ratio of 2.31 and a beta of 1.22. The company has a quick ratio of 1.49, a current ratio of 1.92 and a debt-to-equity ratio of 0.63. L3 Technologies has a 12-month low of $190.70 and a 12-month high of $192.93.
L3 Technologies (NYSE:LLL) last announced its earnings results on Tuesday, May 1st. The aerospace company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.33. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.32 billion. L3 Technologies had a net margin of 6.94% and a return on equity of 13.74%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $2.07 EPS. equities research analysts forecast that L3 Technologies will post 9.64 EPS for the current fiscal year.
A number of brokerages recently issued reports on LLL. Zacks Investment Research upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating and set a $236.00 target price for the company in a research report on Tuesday, February 6th. Stifel Nicolaus increased their target price on shares of L3 Technologies from $215.00 to $220.00 and gave the stock a “hold” rating in a research report on Wednesday, May 2nd. Barclays began coverage on shares of L3 Technologies in a research report on Thursday, March 29th. They set an “overweight” rating and a $274.00 target price for the company. ValuEngine upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America raised shares of L3 Technologies from a “neutral” rating to a “buy” rating and set a $205.00 price objective on the stock in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $223.00.
In other L3 Technologies news, Director Thomas A. Corcoran sold 1,546 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $207.40, for a total transaction of $320,640.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Michael T. Strianese sold 39,515 shares of the stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $214.78, for a total transaction of $8,487,031.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 477,498 shares of company stock worth $98,313,891. Insiders own 2.40% of the company’s stock.
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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