L-3 Communications Sees Unusually High Options Volume (LLL)
L-3 Communications Holdings, Inc. (NYSE:LLL) was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 1,164 put options on the company. This is an increase of approximately 1,777% compared to the average volume of 62 put options.
L-3 Communications (NYSE LLL) opened at $190.02 on Monday. L-3 Communications has a 12 month low of $143.54 and a 12 month high of $192.00. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. The company has a market cap of $14,850.00, a P/E ratio of 22.04, a P/E/G ratio of 3.59 and a beta of 1.17.
L-3 Communications (NYSE:LLL) last posted its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.93 by $0.03. L-3 Communications had a net margin of 5.22% and a return on equity of 14.00%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the business earned $1.88 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. research analysts expect that L-3 Communications will post 8.92 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, November 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.58%. L-3 Communications’s dividend payout ratio is presently 41.27%.
In other L-3 Communications news, insider Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $182.05, for a total value of $4,104,681.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 67,641 shares of company stock worth $12,498,253 in the last three months. 2.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedbush Securities Inc. increased its stake in shares of L-3 Communications by 0.5% during the second quarter. Wedbush Securities Inc. now owns 1,322 shares of the aerospace company’s stock valued at $221,000 after acquiring an additional 6 shares during the period. Honkamp Krueger Financial Services Inc. increased its stake in shares of L-3 Communications by 0.6% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 1,314 shares of the aerospace company’s stock valued at $220,000 after acquiring an additional 8 shares during the period. First Allied Advisory Services Inc. increased its stake in shares of L-3 Communications by 0.3% during the second quarter. First Allied Advisory Services Inc. now owns 3,412 shares of the aerospace company’s stock valued at $586,000 after acquiring an additional 9 shares during the period. MAI Capital Management grew its position in L-3 Communications by 0.8% in the second quarter. MAI Capital Management now owns 2,015 shares of the aerospace company’s stock worth $337,000 after buying an additional 15 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in L-3 Communications by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,786 shares of the aerospace company’s stock worth $967,000 after buying an additional 15 shares during the last quarter. Institutional investors and hedge funds own 77.77% of the company’s stock.
A number of research firms have recently weighed in on LLL. Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price target on shares of L-3 Communications in a report on Sunday, July 30th. Cowen Inc reaffirmed a “buy” rating and set a $190.00 price target on shares of L-3 Communications in a report on Monday, August 14th. Goldman Sachs Group Inc raised L-3 Communications from a “buy” rating to a “conviction-buy” rating and lifted their price target for the company from $195.00 to $204.00 in a report on Monday, August 7th. Stifel Nicolaus lifted their price target on L-3 Communications from $195.00 to $205.00 and gave the company a “hold” rating in a report on Friday, October 27th. Finally, ValuEngine cut L-3 Communications from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. L-3 Communications currently has a consensus rating of “Buy” and an average target price of $197.50.
About L-3 Communications
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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