Retirement Systems of Alabama Cuts Stake in L-3 Communications Holdings Inc. (LLL)
Retirement Systems of Alabama cut its position in shares of L-3 Communications Holdings Inc. (NYSE:LLL) by 1.3% during the third quarter, Holdings Channel reports. The institutional investor owned 100,409 shares of the company’s stock after selling 1,286 shares during the period. Retirement Systems of Alabama’s holdings in L-3 Communications Holdings were worth $15,135,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its position in L-3 Communications Holdings by 1.6% in the second quarter. Nisa Investment Advisors LLC now owns 33,067 shares of the company’s stock worth $4,851,000 after buying an additional 520 shares in the last quarter. Fragasso Group Inc. raised its position in L-3 Communications Holdings by 1.5% in the second quarter. Fragasso Group Inc. now owns 10,822 shares of the company’s stock worth $1,587,000 after buying an additional 163 shares in the last quarter. Creative Planning raised its position in L-3 Communications Holdings by 56.4% in the second quarter. Creative Planning now owns 2,171 shares of the company’s stock worth $318,000 after buying an additional 783 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in L-3 Communications Holdings by 1.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 66,877 shares of the company’s stock worth $9,809,000 after buying an additional 810 shares in the last quarter. Finally, CT Mason raised its position in L-3 Communications Holdings by 2.8% in the second quarter. CT Mason now owns 14,260 shares of the company’s stock worth $2,092,000 after buying an additional 384 shares in the last quarter. Institutional investors own 79.19% of the company’s stock.
L-3 Communications Holdings Inc. (NYSE:LLL) traded up 1.12% during trading on Tuesday, reaching $158.27. The company had a trading volume of 113,683 shares. The firm has a market capitalization of $12.24 billion, a P/E ratio of 35.16 and a beta of 1.05. The firm’s 50-day moving average price is $146.87 and its 200 day moving average price is $146.72. L-3 Communications Holdings Inc. has a one year low of $105.88 and a one year high of $158.45.
L-3 Communications Holdings (NYSE:LLL) last issued its earnings results on Thursday, October 27th. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.82 by $0.06. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 3.43%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period last year, the business posted $2.09 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. Equities analysts forecast that L-3 Communications Holdings Inc. will post $7.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.79%. L-3 Communications Holdings’s dividend payout ratio is 61.95%.
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A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a report on Wednesday, September 28th. Citigroup Inc. lifted their price target on L-3 Communications Holdings from $174.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, October 10th. Robert W. Baird started coverage on L-3 Communications Holdings in a report on Wednesday, October 5th. They set an “outperform” rating and a $184.00 price target on the stock. Deutsche Bank AG reiterated a “buy” rating on shares of L-3 Communications Holdings in a report on Thursday, October 27th. Finally, Barclays PLC upgraded L-3 Communications Holdings from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $155.00 to $165.00 in a report on Thursday, November 10th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $161.54.
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.
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