L-3 Communications Holdings, Inc. (NYSE:LLL) was the recipient of some unusual options trading on Thursday. Traders bought 1,228 put options on the stock. This is an increase of approximately 1,849% compared to the average daily volume of 63 put options.

Several research firms recently commented on LLL. Cowen reaffirmed a “buy” rating and issued a $210.00 price target on shares of L-3 Communications in a report on Wednesday. Credit Suisse Group reaffirmed an “outperform” rating on shares of L-3 Communications in a report on Thursday. Citigroup increased their price objective on L-3 Communications to $230.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus reiterated a “hold” rating and issued a $215.00 price objective on shares of L-3 Communications in a research report on Wednesday. Finally, Royal Bank Of Canada upgraded L-3 Communications from a “sector perform” rating to an “outperform” rating and lowered their price objective for the stock from $202.00 to $159.00 in a research report on Wednesday. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $198.36.

In related news, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $186.40, for a total value of $4,202,760.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 67,639 shares of company stock valued at $12,818,253. Insiders own 2.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wedbush Securities Inc. boosted its position in shares of L-3 Communications by 0.5% during 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 period. First Allied Advisory Services Inc. boosted its position in shares of L-3 Communications by 0.3% during 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 period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of L-3 Communications by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,786 shares of the aerospace company’s stock worth $967,000 after buying an additional 15 shares during the period. MAI Capital Management boosted its position in shares of L-3 Communications by 0.8% during the second quarter. MAI Capital Management now owns 2,015 shares of the aerospace company’s stock worth $337,000 after buying an additional 15 shares during the period. Finally, Keel Point LLC boosted its position in shares of L-3 Communications by 0.5% during the second quarter. Keel Point LLC now owns 3,451 shares of the aerospace company’s stock worth $577,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

L-3 Communications (LLL) opened at $193.85 on Friday. The firm has a market capitalization of $15,129.88, a P/E ratio of 22.46, a P/E/G ratio of 3.25 and a beta of 1.19. L-3 Communications has a 52-week low of $143.54 and a 52-week high of $199.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.80 and a quick ratio of 1.62.

L-3 Communications (NYSE:LLL) last issued its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.03. The company had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.68 billion. L-3 Communications had a return on equity of 14.00% and a net margin of 5.22%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.88 earnings per share. analysts anticipate that L-3 Communications will post 8.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, November 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.55%. L-3 Communications’s dividend payout ratio is currently 41.27%.

COPYRIGHT VIOLATION WARNING: This story was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another domain, it was stolen and republished in violation of US and international trademark and copyright law. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/12/10/stock-traders-buy-large-volume-of-l-3-communications-put-options-lll.html.

About L-3 Communications

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.

Receive News & Ratings for L-3 Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L-3 Communications Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.