Commerce Bank Reduces Position in L-3 Communications Holdings, Inc. (LLL)
Commerce Bank reduced its position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,161 shares of the aerospace company’s stock after selling 533 shares during the quarter. Commerce Bank’s holdings in L-3 Communications Holdings were worth $1,727,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new position in L-3 Communications Holdings during the 2nd quarter worth approximately $100,000. Bronfman E.L. Rothschild L.P. raised its stake in L-3 Communications Holdings by 103.1% during the 2nd 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 period. San Francisco Sentry Investment Group CA acquired a new position in L-3 Communications Holdings during the 2nd quarter worth approximately $171,000. Fox Run Management L.L.C. acquired a new position in L-3 Communications Holdings during the 2nd quarter worth approximately $200,000. Finally, Fulton Bank N.A. acquired a new position in L-3 Communications Holdings during the 3rd quarter worth approximately $202,000. 79.93% of the stock is currently owned by institutional investors and hedge funds.
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In other news, insider Ralph Dambrosio sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $180.23, for a total value of $901,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $186.40, for a total value of $4,202,760.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,641 shares of company stock valued at $13,399,403. 2.90% of the stock is currently owned by corporate insiders.
L-3 Communications Holdings, Inc. (LLL) traded down $0.80 during mid-day trading on Friday, hitting $184.39. The stock had a trading volume of 344,900 shares, compared to its average volume of 494,763. The company has a market capitalization of $14,408.60, a price-to-earnings ratio of 21.39, a PEG ratio of 3.48 and a beta of 1.18. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. L-3 Communications Holdings, Inc. has a 52 week low of $143.54 and a 52 week high of $192.00.
L-3 Communications Holdings (NYSE:LLL) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.03. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.68 billion. L-3 Communications Holdings had a return on equity of 14.00% and a net margin of 5.22%. L-3 Communications Holdings’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 earnings per share. equities research analysts anticipate that L-3 Communications Holdings, Inc. will post 8.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, November 16th. L-3 Communications Holdings’s dividend payout ratio is presently 41.27%.
LLL has been the topic of a number of research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price target on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Stifel Nicolaus reissued a “hold” rating and set a $175.00 price objective (up from $170.00) on shares of L-3 Communications Holdings in a report on Sunday, July 30th. Zacks Investment Research lowered L-3 Communications Holdings from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) raised L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and boosted their price objective for the stock from $195.00 to $204.00 in a report on Monday, August 7th. Finally, Drexel Hamilton raised L-3 Communications Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. L-3 Communications Holdings has an average rating of “Hold” and a consensus target price of $197.50.
L-3 Communications Holdings 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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