Other research analysts also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) upgraded L-3 Communications Holdings from a buy rating to a conviction-buy rating and increased their price target for the stock from $195.00 to $204.00 in a research note on Monday, August 7th. ValuEngine downgraded L-3 Communications Holdings from a buy rating to a hold rating in a research note on Monday, October 2nd. Cowen and Company reiterated an outperform rating and set a $185.00 price target on shares of L-3 Communications Holdings in a research note on Wednesday, June 14th. Drexel Hamilton upgraded L-3 Communications Holdings from a hold rating to a buy rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research downgraded L-3 Communications Holdings from a buy rating to a hold rating in a research note on Thursday, August 3rd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. L-3 Communications Holdings has a consensus rating of Hold and a consensus target price of $192.50.
Shares of L-3 Communications Holdings (LLL) opened at 187.57 on Friday. L-3 Communications Holdings has a 12-month low of $132.38 and a 12-month high of $192.00. The stock’s 50 day moving average price is $185.35 and its 200-day moving average price is $173.76. The firm has a market cap of $14.67 billion, a P/E ratio of 21.14 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.18. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.70 billion. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.88 EPS. On average, analysts predict that L-3 Communications Holdings will post $8.88 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 17th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 1.60%. L-3 Communications Holdings’s dividend payout ratio (DPR) is 33.82%.
In related news, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $185.87, for a total transaction of $4,190,810.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Claude R. Canizares sold 2,981 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $181.68, for a total value of $541,588.08. The disclosure for this sale can be found here. Insiders have sold a total of 75,622 shares of company stock worth $13,649,909 in the last three months. 2.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of LLL. BlackRock Inc. lifted its holdings in L-3 Communications Holdings by 3,351.1% during the 1st quarter. BlackRock Inc. now owns 5,420,436 shares of the aerospace company’s stock worth $895,943,000 after purchasing an additional 5,263,373 shares in the last quarter. Boston Partners lifted its holdings in L-3 Communications Holdings by 80.6% during the 2nd quarter. Boston Partners now owns 2,114,987 shares of the aerospace company’s stock worth $353,372,000 after purchasing an additional 944,150 shares in the last quarter. Teachers Advisors LLC lifted its holdings in L-3 Communications Holdings by 23,683.0% during the 1st quarter. Teachers Advisors LLC now owns 717,057 shares of the aerospace company’s stock worth $118,522,000 after purchasing an additional 714,042 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in L-3 Communications Holdings by 7,291.5% during the 2nd quarter. Janus Henderson Group PLC now owns 717,270 shares of the aerospace company’s stock worth $119,840,000 after purchasing an additional 707,566 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in L-3 Communications Holdings during the 1st quarter worth about $94,543,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.
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.
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