Go to settings -> location -> and uncheck GPS satellites... unless lg is different since I haven't used an lg phone in a while

 

The icon is for location by network. You can turn it off by going to settings/location and uncheck location by network.

 

I have an issue with my phone that when I turn off gps by the drop down quick settings the location cross hairs doesn't always go away (I have find my location by wifi and cell towers always disabled) and I have to go into settings, turn it on then turn it off again. Strange, but that's what my phone does sometimes.

 

I've noticed the same thing, even with all location settings off. Had to turn location on and back off to remove it.

 

I don't have a Connect-yet, but wonder about GPS and battery life also- guessing that battery drain is fairly low but since it's continuous with GPS ON, probably adds up after 6 or 8 hours- even a 3% constant drain ....