L-3 Communications Holdings, Inc. (NYSE:LLL) Director Claude R. Canizares sold 2,981 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total value of $541,588.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of L-3 Communications Holdings, Inc. (NYSE LLL) opened at 178.08 on Friday. L-3 Communications Holdings, Inc. has a 1-year low of $132.38 and a 1-year high of $185.12. The stock’s 50 day moving average price is $175.22 and its 200 day moving average price is $168.82. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 20.07 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last issued its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 EPS. Analysts expect that L-3 Communications Holdings, Inc. will post $8.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio (DPR) is 33.82%.
L-3 Communications Holdings declared that its Board of Directors has authorized a share buyback program 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 programs are often an indication that the company’s management believes its shares are undervalued.
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Several analysts recently commented on the company. Drexel Hamilton upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) raised L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and increased their price target for the company from $195.00 to $204.00 in a research note on Monday, August 7th. Cowen and Company reaffirmed an “outperform” rating and set a $185.00 price target on shares of L-3 Communications Holdings in a research note on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $175.00 price target (up from $170.00) on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Finally, Zacks Investment Research lowered L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. L-3 Communications Holdings presently has an average rating of “Buy” and a consensus price target of $182.50.
A number of institutional investors have recently made changes to their positions in the company. Cleararc Capital Inc. boosted its stake in shares of L-3 Communications Holdings by 0.3% in the first quarter. Cleararc Capital Inc. now owns 1,755 shares of the aerospace company’s stock valued at $290,000 after buying an additional 5 shares during the period. Wedbush Securities Inc. boosted its stake in shares of L-3 Communications Holdings by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,322 shares of the aerospace company’s stock worth $221,000 after buying an additional 6 shares during the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in shares of L-3 Communications Holdings by 0.6% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 1,314 shares of the aerospace company’s stock worth $220,000 after buying an additional 8 shares during the last quarter. First Allied Advisory Services Inc. boosted its stake in shares of L-3 Communications Holdings by 0.3% in the second quarter. First Allied Advisory Services Inc. now owns 3,412 shares of the aerospace company’s stock worth $586,000 after buying an additional 9 shares during the last quarter. Finally, Northeast Financial Consultants Inc boosted its stake in shares of L-3 Communications Holdings by 0.3% in the first quarter. Northeast Financial Consultants Inc now owns 3,323 shares of the aerospace company’s stock worth $549,000 after buying an additional 10 shares during the last quarter. 82.67% of the stock is owned by hedge funds and other institutional investors.
L-3 Communications Holdings 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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