Bp Plc held its position in L-3 Communications Holdings, Inc. (NYSE:LLL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama acquired a new position in L-3 Communications Holdings during the first quarter worth $16,146,000. Hartford Investment Management Co. acquired a new position in L-3 Communications Holdings during the first quarter worth $2,927,000. Berkshire Asset Management LLC PA raised 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 worth $384,000 after buying an additional 350 shares during the period. Parametrica Management Ltd acquired a new position in L-3 Communications Holdings during the first quarter worth $268,000. Finally, First Command Financial Services Inc. raised 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 worth $448,000 after buying an additional 325 shares during the period. 81.21% of the stock is currently owned by hedge funds and other institutional investors.
L-3 Communications Holdings, Inc. (LLL) opened at 183.63 on Friday. 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 52-week low of $132.38 and a 52-week high of $185.12. The company’s 50 day moving average is $173.27 and its 200-day moving average is $167.88.
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, topping the Zacks’ consensus estimate of $2.03 by $0.18. The company had revenue of $2.73 billion for 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%. L-3 Communications Holdings’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 EPS. Equities analysts anticipate that L-3 Communications Holdings, Inc. will post $8.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be paid 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 33.82%.
L-3 Communications Holdings declared that its Board of Directors has initiated a share buyback program on Tuesday, May 9th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 11.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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A number of research firms have weighed in on LLL. Drexel Hamilton raised 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 issued a $175.00 price objective (up from $170.00) on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 price objective on shares of L-3 Communications Holdings in a research note 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 raised their price objective for the company from $195.00 to $204.00 in a research note 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 note on Thursday, August 3rd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $182.08.
In related news, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $168.04, for a total value of $3,788,797.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 67,641 shares of company stock worth $11,511,371. 2.90% of the stock is currently owned by company 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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