Capital Management Associates NY continued to hold its position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300 shares of the aerospace company’s stock at the end of the second quarter. Capital Management Associates NY’s holdings in L-3 Communications Holdings were worth $217,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the company. Cleararc Capital Inc. boosted its position in shares of L-3 Communications Holdings by 0.3% in the first quarter. Cleararc Capital Inc. now owns 1,755 shares of the aerospace company’s stock worth $290,000 after buying an additional 5 shares during the period. Northeast Financial Consultants Inc boosted its position in shares of L-3 Communications Holdings by 0.3% in the first quarter. Northeast Financial Consultants Inc now owns 3,323 shares of the aerospace company’s stock worth $549,000 after buying an additional 10 shares during the period. Parallel Advisors LLC boosted its position in shares of L-3 Communications Holdings by 4.6% in 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 period. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in shares of L-3 Communications Holdings by 2.8% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 1,867 shares of the aerospace company’s stock worth $312,000 after buying an additional 51 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of L-3 Communications Holdings by 3.6% in the first quarter. Pacer Advisors Inc. now owns 1,575 shares of the aerospace company’s stock worth $260,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 81.93% of the company’s stock.
L-3 Communications Holdings, Inc. (NYSE:LLL) traded up 0.20% during midday trading on Friday, hitting $176.37. The stock had a trading volume of 590,955 shares. The company’s 50 day moving average price is $170.51 and its 200-day moving average price is $165.96. The stock has a market capitalization of $13.76 billion, a price-to-earnings ratio of 19.88 and a beta of 1.14. L-3 Communications Holdings, Inc. has a 52 week low of $132.38 and a 52 week high of $180.73.
L-3 Communications Holdings (NYSE:LLL) last announced its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts anticipate that L-3 Communications Holdings, Inc. will post $8.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 annualized dividend and a dividend yield of 1.70%. L-3 Communications Holdings’s payout ratio is 33.82%.
L-3 Communications Holdings declared that its Board of Directors has initiated a stock repurchase program on Tuesday, May 9th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 11.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
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A number of equities analysts have issued reports on the company. Cowen and Company restated an “outperform” rating and set a $185.00 target price on shares of L-3 Communications Holdings in a report on Wednesday, June 14th. BidaskClub upgraded L-3 Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Royal Bank Of Canada restated a “hold” rating and set a $178.00 target price on shares of L-3 Communications Holdings in a report on Friday, June 2nd. Barclays PLC cut L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $165.00 to $175.00 in a report on Monday, May 1st. Finally, Deutsche Bank AG raised their target price on L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. L-3 Communications Holdings has a consensus rating of “Hold” and a consensus target price of $179.18.
In related news, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $169.98, for a total transaction of $3,832,539.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 67,641 shares of company stock worth $11,432,231. 2.90% of the stock is owned by corporate insiders.
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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