Oregon Public Employees Retirement Fund boosted its position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,154 shares of the aerospace company’s stock after buying an additional 5,100 shares during the period. Oregon Public Employees Retirement Fund owned 0.09% of L-3 Communications Holdings worth $11,220,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of L-3 Communications Holdings by 3,351.1% in the first quarter. BlackRock Inc. now owns 5,420,436 shares of the aerospace company’s stock worth $895,943,000 after buying an additional 5,263,373 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of L-3 Communications Holdings by 171,452.7% in the first quarter. Alliancebernstein L.P. now owns 2,319,392 shares of the aerospace company’s stock worth $383,372,000 after buying an additional 2,318,040 shares during the last quarter. Boston Partners increased its position in L-3 Communications Holdings by 1,210.5% in the first quarter. Boston Partners now owns 1,170,837 shares of the aerospace company’s stock valued at $193,527,000 after buying an additional 1,081,494 shares in the last quarter. Teachers Advisors LLC increased its position in L-3 Communications Holdings by 23,683.0% in the first quarter. Teachers Advisors LLC now owns 717,057 shares of the aerospace company’s stock valued at $118,522,000 after buying an additional 714,042 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in L-3 Communications Holdings by 44.6% in the first quarter. JPMorgan Chase & Co. now owns 2,125,903 shares of the aerospace company’s stock valued at $351,390,000 after buying an additional 655,592 shares in the last quarter. Institutional investors own 81.21% of the company’s stock.
Shares of L-3 Communications Holdings, Inc. (NYSE LLL) traded up 0.19% on Friday, reaching $183.63. The company had a trading volume of 657,404 shares. The stock has a 50 day moving average price of $173.27 and a 200-day moving average price of $167.88. The company 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, Inc. has a 12 month low of $132.38 and a 12 month high of $185.12.
L-3 Communications Holdings (NYSE:LLL) last released its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Analysts forecast that L-3 Communications Holdings, Inc. will post $8.88 EPS for the current fiscal year.
L-3 Communications Holdings declared that its Board of Directors has approved a stock buyback program on Tuesday, May 9th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 11.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.63%. L-3 Communications Holdings’s dividend payout ratio is 33.82%.
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Several equities analysts have weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 target price on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) upgraded L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and lifted their price objective for the company from $195.00 to $204.00 in a research note on Monday, August 7th. Royal Bank Of Canada reiterated a “hold” rating and issued a $178.00 price objective on shares of L-3 Communications Holdings in a research note on Friday, June 2nd. Drexel Hamilton upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Finally, Deutsche Bank AG boosted their target price on L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. L-3 Communications Holdings has a consensus rating of “Buy” and a consensus target price of $182.08.
In other news, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $168.04, for a total transaction of $3,788,797.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 67,641 shares of company stock valued at $11,511,371. Company insiders own 2.90% of the company’s stock.
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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