L-3 Communications Holdings, Inc. (LLL) to Issue Quarterly Dividend of $0.75
L-3 Communications Holdings, Inc. (NYSE:LLL) declared a quarterly dividend on Tuesday, October 17th, RTT News reports. Shareholders of record on Friday, November 17th will be paid a dividend of 0.75 per share by the aerospace company on Friday, December 15th. This represents a $3.00 annualized dividend and a yield of 1.61%.
L-3 Communications Holdings has increased its dividend payment by an average of 8.4% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. L-3 Communications Holdings has a dividend payout ratio of 33.7% meaning its dividend is sufficiently covered by earnings. Analysts expect L-3 Communications Holdings to earn $9.30 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 32.3%.
L-3 Communications Holdings (NYSE LLL) traded down 0.2788% during mid-day trading on Tuesday, hitting $185.8304. 112,017 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $186.23 and its 200-day moving average price is $174.23. L-3 Communications Holdings has a 12 month low of $132.38 and a 12 month high of $192.00. The stock has a market cap of $14.54 billion, a PE ratio of 20.9481 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last posted its quarterly earnings data on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. The firm 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%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company posted $1.88 EPS. Equities analysts expect that L-3 Communications Holdings will post $8.84 EPS for the current fiscal year.
A number of equities analysts recently commented on LLL shares. Cowen and Company reissued a “buy” rating and issued a $185.00 price target on shares of L-3 Communications Holdings in a report on Thursday, July 20th. Deutsche Bank AG reissued a “buy” rating and issued a $205.00 price target (up previously from $190.00) on shares of L-3 Communications Holdings in a report on Monday, October 2nd. Zacks Investment Research raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Monday, October 2nd. ValuEngine raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Drexel Hamilton raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $192.50.
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In related news, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $173.49, for a total transaction of $3,911,679.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ralph Dambrosio sold 5,000 shares of L-3 Communications Holdings stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $180.23, for a total transaction of $901,150.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,622 shares of company stock valued at $13,649,909. 2.90% of the stock is currently owned by corporate insiders.
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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