L-3 Communications Holdings, Inc. (LLL) Sets New 12-Month High at $190.99
L-3 Communications Holdings, Inc. (NYSE:LLL) shares reached a new 52-week high on Thursday . The stock traded as high as $190.99 and last traded at $190.95, with a volume of 282,387 shares traded. The stock had previously closed at $189.51.
LLL has been the subject of several research analyst reports. Stifel Nicolaus restated a “hold” rating and issued a $175.00 price objective (up previously from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Cowen and Company restated a “buy” rating and issued a $185.00 price objective on shares of L-3 Communications Holdings in a research report on Thursday, July 20th. Royal Bank Of Canada restated a “hold” rating and issued a $182.00 price objective on shares of L-3 Communications Holdings in a research report on Friday, September 1st. Zacks Investment Research cut shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. L-3 Communications Holdings currently has a consensus rating of “Buy” and a consensus price target of $182.91.
The firm has a market capitalization of $14.81 billion, a PE ratio of 21.34 and a beta of 1.15. The company has a 50 day moving average price of $181.04 and a 200-day moving average price of $171.55.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.70 billion. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. On average, equities research analysts forecast that L-3 Communications Holdings, Inc. will post $8.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Tuesday, August 15th. L-3 Communications Holdings’s payout ratio is currently 33.82%.
In other news, insider Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $182.05, for a total transaction of $4,104,681.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claude R. Canizares sold 2,981 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total transaction of $541,588.08. The disclosure for this sale can be found here. Insiders have sold 75,622 shares of company stock valued at $13,269,992 in the last ninety days. Insiders own 2.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LLL. Acrospire Investment Management LLC bought a new position in shares of L-3 Communications Holdings during the second quarter valued at $100,000. Parallel Advisors LLC raised its stake in L-3 Communications Holdings by 4.6% during the first quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock worth $103,000 after buying an additional 27 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in L-3 Communications Holdings by 103.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock worth $109,000 after buying an additional 332 shares during the last quarter. FNY Partners Fund LP bought a new position in L-3 Communications Holdings during the first quarter worth $115,000. Finally, FNY Managed Accounts LLC bought a new position in L-3 Communications Holdings during the first quarter worth $141,000. 79.08% of the stock is owned by hedge funds and other institutional investors.
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About L-3 Communications Holdings
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.
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