L-3 Communications Holdings Inc. (LLL) Hits New 52-Week High at $149.90
L-3 Communications Holdings Inc. (NYSE:LLL) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $149.90 and last traded at $149.46, with a volume of 503,639 shares trading hands. The stock had previously closed at $147.23.
A number of brokerages have recently issued reports on LLL. Zacks Investment Research cut L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th. Royal Bank Of Canada raised L-3 Communications Holdings from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $137.00 to $150.00 in a research note on Thursday, May 19th. Deutsche Bank AG reaffirmed a “buy” rating and set a $146.00 price objective on shares of L-3 Communications Holdings in a research note on Sunday, April 10th. Goldman Sachs Group Inc. raised their price objective on L-3 Communications Holdings from $131.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, April 12th. Finally, Drexel Hamilton raised L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Thursday, May 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $145.18.
The company’s market capitalization is $11.30 billion. The company has a 50 day moving average of $142.72 and a 200 day moving average of $125.99.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.57 by $0.51. The company earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that L-3 Communications Holdings Inc. will post $7.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.91%.
In other news, insider John S. Mega sold 28,960 shares of the business’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $135.77, for a total value of $3,931,899.20. Following the sale, the insider now directly owns 33,419 shares in the company, valued at approximately $4,537,297.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Kantor sold 16,090 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $133.00, for a total transaction of $2,139,970.00. Following the completion of the sale, the insider now owns 51,106 shares in the company, valued at $6,797,098. The disclosure for this sale can be found here.
Several hedge funds have bought and sold shares of the company. Morgan Stanley increased its stake in L-3 Communications Holdings by 3.6% in the fourth quarter. Morgan Stanley now owns 321,323 shares of the company’s stock worth $38,402,000 after buying an additional 11,213 shares during the period. Engineers Gate Manager LP acquired a new stake in L-3 Communications Holdings during the fourth quarter worth $1,646,000. Aberdeen Asset Management PLC UK increased 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 during the period. PNC Financial Services Group Inc. increased its stake in L-3 Communications Holdings by 1.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 28,120 shares of the company’s stock worth $3,360,000 after buying an additional 476 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased 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 during the period.
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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