Insider Selling: L-3 Communications Holdings Insider Sells 60,000 Shares of Stock (LLL)
L-3 Communications Holdings (NYSE:LLL) Insider Michael T. Strianese sold 60,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $120.70, for a total transaction of $7,242,000.00. Following the transaction, the insider now directly owns 150,613 shares of the company’s stock, valued at approximately $18,178,989. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Bank of America upgraded shares of L-3 Communications Holdings from an “underperform” rating to a “buy” rating in a research note on Thursday. They now have a $146.00 price target on the stock, up previously from $117.00. Separately, analysts at JPMorgan Chase & Co. upgraded shares of L-3 Communications Holdings from a “neutral” rating to an “overweight” rating in a research note on Monday, May 5th. They now have a $135.00 price target on the stock, up previously from $124.00. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of L-3 Communications Holdings in a research note on Friday, May 2nd. They now have a $122.00 price target on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. L-3 Communications Holdings presently has an average rating of “Buy” and a consensus target price of $121.75.
L-3 Communications Holdings (NYSE:LLL) traded down 0.85% during mid-day trading on Thursday, hitting $116.35. 1,960,924 shares of the company’s stock traded hands. L-3 Communications Holdings has a 1-year low of $82.60 and a 1-year high of $121.43. The stock has a 50-day moving average of $116.2 and a 200-day moving average of $109.7. The company has a market cap of $10.033 billion and a price-to-earnings ratio of 13.90.
L-3 Communications Holdings (NYSE:LLL) last released its earnings data on Thursday, May 1st. The company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.04. The company had revenue of $3.00 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts expect that L-3 Communications Holdings will post $8.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders of record on Monday, May 19th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, May 15th.
L-3 Communications Holdings, Inc is a prime contractor in aerospace systems and national security solutions.
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