Investors Buy L-3 Communications Holdings Inc. (LLL) on Weakness
Traders bought shares of L-3 Communications Holdings Inc. (NYSE:LLL) on weakness during trading hours on Friday. $94.48 million flowed into the stock on the tick-up and $24.08 million flowed out of the stock on the tick-down, for a money net flow of $70.40 million into the stock. Of all equities tracked, L-3 Communications Holdings had the 10th highest net in-flow for the day. L-3 Communications Holdings traded down ($1.74) for the day and closed at $148.84
Several equities research analysts recently weighed in on the company. Barclays PLC boosted their target price on 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. Zacks Investment Research upgraded 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 note on Monday, May 2nd. Drexel Hamilton upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research note on Thursday, May 26th. Credit Suisse Group AG assumed coverage on L-3 Communications Holdings in a research note on Tuesday, June 7th. They issued a “buy” rating and a $169.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $137.00 price objective (up previously from $135.00) on shares of L-3 Communications Holdings in a research note on Thursday, April 28th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $148.18.
The firm has a 50-day moving average price of $149.25 and a 200 day moving average price of $133.31. The firm’s market cap is $11.50 billion.
L-3 Communications Holdings (NYSE:LLL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.19. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $1.36 EPS. L-3 Communications Holdings’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that L-3 Communications Holdings Inc. will post $7.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th will be paid a dividend of $0.70 per share. The ex-dividend date is Monday, August 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.88%.
In other L-3 Communications Holdings news, insider Ralph Dambrosio sold 12,760 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,914,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Claude R. Canizares sold 2,469 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $150.23, for a total value of $370,917.87. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in LLL. BNP Paribas Arbitrage SA increased its position 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. I.G. Investment Management LTD. increased its position 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. Victory Capital Management Inc. increased its position 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, Schroder Investment Management Group increased its position 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 worth $19,067,000 after buying an additional 151,242 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.
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