L-3 Communications Holdings, Inc. (LLL) Stake Held by Bp Plc
Bp Plc continued to hold its position in L-3 Communications Holdings, Inc. (NYSE:LLL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the aerospace company’s stock at the end of the second quarter. Bp Plc’s holdings in L-3 Communications Holdings were worth $1,670,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the stock. Retirement Systems of Alabama bought a new position in L-3 Communications Holdings during the first quarter valued at about $16,146,000. Hartford Investment Management Co. bought a new position in L-3 Communications Holdings during the first quarter valued at about $2,927,000. Berkshire Asset Management LLC PA boosted its position in L-3 Communications Holdings by 17.7% in the first quarter. Berkshire Asset Management LLC PA now owns 2,324 shares of the aerospace company’s stock valued at $384,000 after buying an additional 350 shares in the last quarter. Parametrica Management Ltd bought a new position in L-3 Communications Holdings during the first quarter valued at about $268,000. Finally, First Command Financial Services Inc. boosted its position in L-3 Communications Holdings by 13.6% in the first quarter. First Command Financial Services Inc. now owns 2,712 shares of the aerospace company’s stock valued at $448,000 after buying an additional 325 shares in the last quarter. Institutional investors and hedge funds own 81.21% of the company’s stock.
Shares of L-3 Communications Holdings, Inc. (LLL) opened at 183.63 on Friday. L-3 Communications Holdings, Inc. has a 12-month low of $132.38 and a 12-month high of $185.12. The company has a 50-day moving average of $173.27 and a 200 day moving average of $167.88. The stock has a market capitalization of $14.36 billion, a price-to-earnings ratio of 20.70 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the company posted $1.88 earnings per share. L-3 Communications Holdings’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that L-3 Communications Holdings, Inc. will post $8.88 earnings per share for the current year.
L-3 Communications Holdings declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 9th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the aerospace company to purchase up to 11.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Tuesday, August 15th. L-3 Communications Holdings’s payout ratio is presently 33.82%.
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Several equities analysts have issued reports on the stock. Drexel Hamilton upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus reaffirmed a “hold” rating and set a $175.00 price target (up previously from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price target on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and upped their price target for the company from $195.00 to $204.00 in a research report on Monday, August 7th. Finally, Zacks Investment Research lowered shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $182.08.
In other L-3 Communications Holdings news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $168.04, for a total value of $3,788,797.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 67,641 shares of company stock valued at $11,511,371 over the last three months. 2.90% of the stock is currently 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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