L-3 Communications Holdings, Inc. (LLL) Director Sells $541,588.08 in Stock
L-3 Communications Holdings, Inc. (NYSE:LLL) Director Claude R. Canizares sold 2,981 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total value of $541,588.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) traded down 1.58% during mid-day trading on Thursday, hitting $178.59. The stock had a trading volume of 532,325 shares. The firm has a market cap of $13.97 billion, a PE ratio of 20.13 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 stock has a 50 day moving average price of $174.57 and a 200 day moving average price of $168.60.
L-3 Communications Holdings (NYSE:LLL) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the company posted $1.88 EPS. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts expect that L-3 Communications Holdings, Inc. will post $8.87 EPS for the current fiscal year.
L-3 Communications Holdings announced that its board has approved a share repurchase plan on Tuesday, May 9th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to buy up to 11.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 1.65%. L-3 Communications Holdings’s payout ratio is 33.82%.
Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its stake in L-3 Communications Holdings by 4.0% in the second quarter. Advisory Services Network LLC now owns 2,242 shares of the aerospace company’s stock worth $375,000 after buying an additional 86 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in L-3 Communications Holdings during the second quarter worth approximately $451,000. WINTON GROUP Ltd raised its stake in L-3 Communications Holdings by 27.2% in the second quarter. WINTON GROUP Ltd now owns 16,354 shares of the aerospace company’s stock worth $2,732,000 after buying an additional 3,502 shares during the period. Colony Group LLC raised its stake in L-3 Communications Holdings by 0.7% in the second quarter. Colony Group LLC now owns 27,886 shares of the aerospace company’s stock worth $4,659,000 after buying an additional 206 shares during the period. Finally, Koch Industries Inc. bought a new stake in L-3 Communications Holdings during the second quarter worth approximately $279,000. Hedge funds and other institutional investors own 82.67% of the company’s stock.
A number of analysts have weighed in on the company. Cowen and Company reiterated a “buy” rating and issued a $190.00 price target on shares of L-3 Communications Holdings in a research report on Monday. 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) upgraded L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and upped their price target for the company from $195.00 to $204.00 in a research report on Monday, August 7th. Zacks Investment Research cut L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $175.00 price target (up from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $182.50.
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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