L-3 Communications Holdings Inc. (LLL) Hits New 52-Week High at $151.40
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) hit a new 52-week high during mid-day 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 brokerages have issued reports on LLL. Zacks Investment Research raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research note on Monday, May 2nd. Credit Suisse Group AG assumed coverage on shares of L-3 Communications Holdings in a research note on Tuesday, June 7th. They issued a “buy” rating and a $169.00 price target on the stock. Barclays PLC upped their price target on shares of L-3 Communications Holdings from $126.00 to $133.00 and gave the stock an “equal weight” rating in a research note on Monday, May 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $137.00 price target (up from $135.00) on shares of L-3 Communications Holdings in a research note on Thursday, April 28th. Finally, Goldman Sachs Group Inc. raised shares of L-3 Communications Holdings from a “neutral” rating to a “buy” rating and upped their price target for the stock from $138.00 to $156.00 in a research note on Monday, May 2nd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $145.18.
The stock’s market capitalization is $11.49 billion. The stock’s 50 day moving average price is $145.55 and its 200-day moving average price is $127.89.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.51. During the same period in the prior year, the business earned $1.43 earnings per share. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.36 billion. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities analysts predict that L-3 Communications Holdings Inc. will post $7.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 17th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%.
In related news, CEO Michael T. Strianese sold 45,511 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $133.60, for a total value of $6,080,269.60. Following the sale, the chief executive officer now directly owns 180,323 shares of the company’s stock, valued at approximately $24,091,152.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John S. Mega sold 28,960 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $135.77, for a total transaction of $3,931,899.20. Following the completion of the sale, the insider now directly owns 33,419 shares in the company, valued at $4,537,297.63. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of the stock. Schroder Investment Management Group boosted its stake in L-3 Communications Holdings by 1,822.2% in the fourth quarter. Schroder Investment Management Group now owns 159,542 shares of the company’s stock valued at $19,067,000 after buying an additional 151,242 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its stake in L-3 Communications Holdings by 533.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 159,474 shares of the company’s stock valued at $19,059,000 after buying an additional 134,294 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in L-3 Communications Holdings by 249.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 29,021 shares of the company’s stock valued at $3,468,000 after buying an additional 20,705 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its stake in L-3 Communications Holdings by 239.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 25,132 shares of the company’s stock valued at $2,865,000 after buying an additional 17,724 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new stake in L-3 Communications Holdings during the fourth quarter valued at approximately $1,673,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.