Stifel Financial Corp Raises Position in L-3 Communications Holdings, Inc. (LLL)
Stifel Financial Corp boosted its holdings in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 30.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,074 shares of the aerospace company’s stock after buying an additional 18,493 shares during the quarter. Stifel Financial Corp owned approximately 0.10% of L-3 Communications worth $15,097,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in L-3 Communications by 5.3% in the second quarter. Vanguard Group Inc. now owns 8,556,292 shares of the aerospace company’s stock valued at $1,429,586,000 after acquiring an additional 431,776 shares in the last quarter. BlackRock Inc. boosted its stake in L-3 Communications by 5.8% in the second quarter. BlackRock Inc. now owns 5,734,197 shares of the aerospace company’s stock valued at $958,069,000 after acquiring an additional 313,761 shares in the last quarter. Boston Partners boosted its stake in L-3 Communications by 80.6% in the second quarter. Boston Partners now owns 2,114,987 shares of the aerospace company’s stock valued at $353,372,000 after acquiring an additional 944,150 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in L-3 Communications by 221.3% in the third quarter. Ameriprise Financial Inc. now owns 1,137,399 shares of the aerospace company’s stock valued at $214,322,000 after acquiring an additional 783,446 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in L-3 Communications by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 941,274 shares of the aerospace company’s stock valued at $157,265,000 after acquiring an additional 27,812 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.
LLL has been the subject of several research reports. Cowen reiterated a “buy” rating and set a $190.00 price objective on shares of L-3 Communications in a research note on Monday, August 14th. Stifel Nicolaus lifted their price objective on shares of L-3 Communications from $195.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. ValuEngine downgraded shares of L-3 Communications from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Royal Bank Of Canada reiterated a “hold” rating on shares of L-3 Communications in a research note on Sunday, October 8th. Finally, Bank of America lifted their price objective on shares of L-3 Communications from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 10th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $198.36.
L-3 Communications Holdings, Inc. (NYSE LLL) traded down $1.02 during mid-day trading on Friday, hitting $193.62. 956,600 shares of the stock were exchanged, compared to its average volume of 554,810. The stock has a market capitalization of $15,030.00, a PE ratio of 22.58, a P/E/G ratio of 3.87 and a beta of 1.19. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 0.66. L-3 Communications Holdings, Inc. has a twelve month low of $143.54 and a twelve month high of $199.97.
L-3 Communications (NYSE:LLL) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. equities research analysts expect that L-3 Communications Holdings, Inc. will post 8.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 1.55%. L-3 Communications’s dividend payout ratio is currently 41.27%.
In other news, insider Michael T. Strianese sold 22,545 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $196.26, for a total transaction of $4,424,681.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 67,639 shares of company stock valued at $12,818,253 in the last three months. Corporate 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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