L-3 Communications Holdings, Inc. (LLL) Shares Bought by CIBC Asset Management Inc
CIBC Asset Management Inc increased its position in L-3 Communications Holdings, Inc. (NYSE:LLL) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,575 shares of the aerospace company’s stock after buying an additional 29 shares during the period. CIBC Asset Management Inc’s holdings in L-3 Communications Holdings were worth $1,266,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in L-3 Communications Holdings by 3,351.1% in the first quarter. BlackRock Inc. now owns 5,420,436 shares of the aerospace company’s stock worth $895,943,000 after buying an additional 5,263,373 shares in the last quarter. Alliancebernstein L.P. boosted its position in L-3 Communications Holdings by 171,452.7% in the first quarter. Alliancebernstein L.P. now owns 2,319,392 shares of the aerospace company’s stock worth $383,372,000 after buying an additional 2,318,040 shares in the last quarter. Boston Partners boosted its position in L-3 Communications Holdings by 1,210.5% in the first quarter. Boston Partners now owns 1,170,837 shares of the aerospace company’s stock worth $193,527,000 after buying an additional 1,081,494 shares in the last quarter. Teachers Advisors LLC boosted its position in L-3 Communications Holdings by 23,683.0% in the first quarter. Teachers Advisors LLC now owns 717,057 shares of the aerospace company’s stock worth $118,522,000 after buying an additional 714,042 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in L-3 Communications Holdings by 44.6% in the first quarter. JPMorgan Chase & Co. now owns 2,125,903 shares of the aerospace company’s stock worth $351,390,000 after buying an additional 655,592 shares in the last quarter. 81.21% of the stock is owned by institutional investors and hedge funds.
L-3 Communications Holdings, Inc. (NYSE:LLL) opened at 183.63 on Friday. The stock has a market cap of $14.36 billion, a PE ratio of 20.70 and a beta of 1.15. L-3 Communications Holdings, Inc. has a 12-month low of $132.38 and a 12-month high of $185.12. The firm has a 50-day moving average of $173.27 and a 200-day moving average of $167.88.
L-3 Communications Holdings (NYSE:LLL) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.18. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. L-3 Communications Holdings’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.88 EPS. Equities analysts predict that L-3 Communications Holdings, Inc. will post $8.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 1.63%. L-3 Communications Holdings’s payout ratio is currently 33.82%.
L-3 Communications Holdings declared that its Board of Directors has approved a share buyback program on Tuesday, May 9th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the aerospace company to buy up to 11.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
LLL has been the subject of a number of research analyst reports. Barclays PLC cut shares of L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $165.00 to $175.00 in a report on Monday, May 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $178.00 price target on shares of L-3 Communications Holdings in a report on Friday, June 2nd. Cowen and Company reissued an “outperform” rating and set a $185.00 target price on shares of L-3 Communications Holdings in a report on Wednesday, June 14th. Deutsche Bank AG raised their target price on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $170.00 target price (up previously from $160.00) on shares of L-3 Communications Holdings in a report on Saturday, April 29th. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $182.08.
In other L-3 Communications Holdings news, Chairman Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $169.02, for a total transaction of $3,810,893.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 67,641 shares of company stock valued at $11,511,371. 2.90% of the stock is owned by insiders.
L-3 Communications Holdings Company Profile
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems. The Company provides a broad range of communication and electronic systems and products used on military and commercial platforms.
Want to see what other hedge funds are holding LLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L-3 Communications Holdings, Inc. (NYSE:LLL).
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.