L-3 Communications Holdings Inc. (LLL) Plans Quarterly Dividend of $0.70
L-3 Communications Holdings Inc. (NYSE:LLL) announced a quarterly dividend on Tuesday, October 18th. Shareholders of record on Thursday, November 17th will be given a dividend of 0.70 per share on Thursday, December 15th. This represents a $2.80 annualized dividend and a yield of 1.88%.
Shares of L-3 Communications Holdings (NYSE:LLL) opened at 149.22 on Wednesday. L-3 Communications Holdings has a 12-month low of $105.88 and a 12-month high of $154.50. The firm has a 50-day moving average of $149.55 and a 200 day moving average of $142.63. The stock’s market capitalization is $11.53 billion.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.19. L-3 Communications Holdings had a negative net margin of 0.85% and a positive return on equity of 14.37%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business earned $1.36 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Equities analysts forecast that L-3 Communications Holdings will post $7.88 earnings per share for the current fiscal year.
LLL has been the topic of a number of analyst reports. Citigroup Inc. raised their price objective on shares of L-3 Communications Holdings from $174.00 to $180.00 and gave the company a “buy” rating in a report on Monday, October 10th. Zacks Investment Research upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a report on Wednesday, September 28th. Robert W. Baird initiated coverage on shares of L-3 Communications Holdings in a report on Wednesday, October 5th. They issued an “outperform” rating and a $184.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of L-3 Communications Holdings from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $158.00 to $182.00 in a report on Thursday, August 25th. Finally, Jefferies Group restated a “hold” rating on shares of L-3 Communications Holdings in a report on Monday, July 11th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $157.46.
In other L-3 Communications Holdings news, Director Claude R. Canizares sold 2,469 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael T. Strianese sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $149.64, for a total value of $14,964,000.00. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BlackRock Investment Management LLC boosted its stake in shares of L-3 Communications Holdings by 9.5% in the second quarter. BlackRock Investment Management LLC now owns 185,054 shares of the company’s stock valued at $27,146,000 after buying an additional 16,003 shares in the last quarter. BlackRock Inc. raised its position in L-3 Communications Holdings by 30.9% in the second quarter. BlackRock Inc. now owns 256,101 shares of the company’s stock valued at $37,567,000 after buying an additional 60,382 shares during the last quarter. BlackRock Fund Advisors raised its position in L-3 Communications Holdings by 4.3% in the second quarter. BlackRock Fund Advisors now owns 1,460,347 shares of the company’s stock valued at $214,218,000 after buying an additional 60,455 shares during the last quarter. BlackRock Group LTD raised its position in L-3 Communications Holdings by 7.4% in the second quarter. BlackRock Group LTD now owns 613,088 shares of the company’s stock valued at $89,934,000 after buying an additional 42,283 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in L-3 Communications Holdings during the second quarter valued at about $215,000. 80.46% of the stock is owned by hedge funds and other institutional investors.
L-3 Communications Holdings Company Profile
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.
Receive News & Ratings for L-3 Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L-3 Communications Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.