Stock Traders Buy Large Volume of L-3 Communications Put Options (LLL)
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.
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%.
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.
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