L-3 Communications Holdings Inc. (LLL) Reaches New 12-Month High at $151.40
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) reached a new 52-week high during trading on Tuesday . The stock traded as high as $151.40 and last traded at $148.87, with a volume of 339,944 shares changing hands. The stock had previously closed at $149.02.
Several research firms have recently commented on LLL. Jefferies Group reiterated a “hold” rating on shares of L-3 Communications Holdings in a research report on Monday, July 11th. Zacks Investment Research lowered shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of L-3 Communications Holdings in a research report on Monday, June 13th. Credit Suisse Group AG began coverage on shares of L-3 Communications Holdings in a research report on Tuesday, June 7th. They issued a “buy” rating and a $169.00 price target on the stock. Finally, Royal Bank Of Canada upgraded shares of L-3 Communications Holdings from a “sector perform” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Thursday, May 26th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $145.18.
The firm has a 50-day moving average price of $145.08 and a 200-day moving average price of $127.57. The company’s market cap is $11.47 billion.
L-3 Communications Holdings (NYSE:LLL) last released its earnings results on Wednesday, April 27th. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.51. The business earned $2.40 billion during the quarter, compared to the consensus estimate of $2.36 billion. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, analysts expect that L-3 Communications Holdings Inc. will post $7.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 17th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%.
In related news, CFO Ralph Dambrosio sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $136.25, for a total value of $1,362,500.00. Following the sale, the chief financial officer now directly owns 48,687 shares in the company, valued at approximately $6,633,603.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John S. Mega sold 7,567 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $138.00, for a total transaction of $1,044,246.00. Following the completion of the sale, the insider now owns 17,476 shares in the company, valued at $2,411,688. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its stake in L-3 Communications Holdings by 3.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 10,659 shares of the company’s stock worth $1,274,000 after buying an additional 404 shares during the last quarter. Wellington Shields Capital Management LLC increased its stake in L-3 Communications Holdings by 75.2% in the fourth quarter. Wellington Shields Capital Management LLC now owns 12,000 shares of the company’s stock worth $1,434,000 after buying an additional 5,150 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in L-3 Communications Holdings during the fourth quarter worth approximately $1,646,000. Quantitative Investment Management LLC acquired a new stake in L-3 Communications Holdings during the fourth quarter worth approximately $1,673,000. Finally, I.G. Investment Management LTD. increased its stake in L-3 Communications Holdings by 29.3% in the fourth quarter. I.G. Investment Management LTD. now owns 16,485 shares of the company’s stock worth $1,970,000 after buying an additional 3,734 shares during the last quarter.
L-3 Communications Holdings, Inc (L-3 Holdings) operates through its operating subsidiary L-3 Communications (L-3). The Company operates through three segments: Electronic Systems, which provides a range of products and services, including components, products, subsystems, systems and related services to military and commercial customers; Aerospace Systems, which provides products and services for the Intelligence, Surveillance and Reconnaissance (ISR) market, specializing in signals intelligence (SIGINT) and multi-intelligence platforms, and Communication Systems, which provides network and communication systems, secure communications products, radio frequency components, satellite communication terminals, and space, microwave and telemetry products.
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