L-3 Communications Holdings Inc. (LLL) Sees Large Volume Increase
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) saw strong trading volume on Monday . 527,889 shares traded hands during mid-day trading, an increase of 6% from the previous session’s volume of 497,257 shares.The stock last traded at $150.69 and had previously closed at $148.21.
Several research analysts have recently weighed in on the company. Deutsche Bank AG reissued a “buy” rating and issued a $160.00 price objective on shares of L-3 Communications Holdings in a research report on Monday. Zacks Investment Research raised L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a research report on Monday, May 2nd. Credit Suisse Group AG assumed coverage on L-3 Communications Holdings in a research report on Tuesday, June 7th. They issued a “buy” rating and a $169.00 price objective for the company. Barclays PLC lifted their price objective on L-3 Communications Holdings from $126.00 to $133.00 and gave the stock an “equal weight” rating in a research report on Monday, May 2nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $137.00 price objective (up from $135.00) on shares of L-3 Communications Holdings in a research report on Thursday, April 28th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $148.18.
The company has a 50 day moving average price of $148.52 and a 200 day moving average price of $132.61. The company’s market capitalization is $11.61 billion.
L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, July 28th. The company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.19. During the same quarter in the prior year, the company posted $1.36 earnings per share. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.49 billion. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities research analysts predict that L-3 Communications Holdings Inc. will post $7.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 17th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.86%.
In other news, Chairman Michael T. Strianese sold 100,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $149.64, for a total transaction of $14,964,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Claude R. Canizares sold 2,469 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $150.23, for a total transaction of $370,917.87. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised 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 in the last quarter. I.G. Investment Management LTD. raised 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 in the last quarter. Aberdeen Asset Management PLC UK raised 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 worth $2,865,000 after buying an additional 17,724 shares in the last quarter. Victory Capital Management Inc. raised its stake in L-3 Communications Holdings by 5.7% in the fourth quarter. Victory Capital Management Inc. now owns 27,560 shares of the company’s stock worth $3,294,000 after buying an additional 1,474 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised 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 worth $3,468,000 after buying an additional 20,705 shares in 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.
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.