Janney Montgomery Scott LLC Buys Shares of 20,841 L-3 Communications Holdings, Inc. (LLL)
Janney Montgomery Scott LLC bought a new stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 20,841 shares of the aerospace company’s stock, valued at approximately $3,927,000.
Other large investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in L-3 Communications in the 2nd quarter valued at $100,000. Bronfman E.L. Rothschild L.P. lifted its position in L-3 Communications by 103.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 332 shares during the period. Invictus RG acquired a new position in L-3 Communications during the 3rd quarter valued at about $135,000. San Francisco Sentry Investment Group CA acquired a new stake in shares of L-3 Communications in the 2nd quarter valued at approximately $171,000. Finally, NEXT Financial Group Inc raised its position in shares of L-3 Communications by 53.8% in the 3rd quarter. NEXT Financial Group Inc now owns 1,012 shares of the aerospace company’s stock valued at $190,000 after acquiring an additional 354 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.
L-3 Communications Holdings, Inc. (LLL) traded down $1.56 during trading hours on Friday, hitting $192.41. 536,000 shares of the company traded hands, compared to its average volume of 555,107. L-3 Communications Holdings, Inc. has a twelve month low of $143.54 and a twelve month high of $199.97. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $15,157.23, a PE ratio of 22.50, a PEG ratio of 3.41 and a beta of 1.19.
L-3 Communications (NYSE:LLL) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.03. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.68 billion. L-3 Communications had a net margin of 5.22% and a return on equity of 14.00%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. research analysts predict that L-3 Communications Holdings, Inc. will post 8.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, November 16th. L-3 Communications’s dividend payout ratio (DPR) is currently 41.27%.
A number of research firms recently issued reports on LLL. Citigroup increased their target price on L-3 Communications to $230.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th. Stifel Nicolaus reissued a “hold” rating and set a $215.00 target price on shares of L-3 Communications in a research note on Wednesday, December 6th. ValuEngine cut L-3 Communications from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Royal Bank of Canada raised L-3 Communications from a “sector perform” rating to an “outperform” rating and lowered their target price for the stock from $202.00 to $159.00 in a research note on Wednesday, December 6th. Finally, Cowen reaffirmed a “buy” rating and set a $200.00 price target (up from $190.00) on shares of L-3 Communications in a research note on Tuesday, October 3rd. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $198.36.
In other news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $186.40, for a total transaction of $4,202,760.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 67,639 shares of company stock worth $12,818,253. Company insiders own 2.90% of the company’s stock.
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L-3 Communications 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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