Rothschild Asset Management Inc. raised its position in L-3 Communications Holdings, Inc. (NYSE:LLL) by 5.7% during the second quarter, Holdings Channel reports. The institutional investor owned 4,064 shares of the aerospace company’s stock after buying an additional 220 shares during the period. Rothschild Asset Management Inc.’s holdings in L-3 Communications Holdings were worth $679,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Hartford Investment Management Co. acquired a new stake in shares of L-3 Communications Holdings during the first quarter worth about $2,927,000. Berkshire Asset Management LLC PA raised its stake in shares of L-3 Communications Holdings by 17.7% in the first quarter. Berkshire Asset Management LLC PA now owns 2,324 shares of the aerospace company’s stock worth $384,000 after buying an additional 350 shares during the period. Parametrica Management Ltd purchased a new stake in shares of L-3 Communications Holdings during the first quarter worth $268,000. First Command Financial Services Inc. raised its stake in shares of L-3 Communications Holdings by 13.6% in the first quarter. First Command Financial Services Inc. now owns 2,712 shares of the aerospace company’s stock worth $448,000 after buying an additional 325 shares during the period. Finally, Alpha Windward LLC raised its stake in shares of L-3 Communications Holdings by 1,165.3% in the first quarter. Alpha Windward LLC now owns 3,062 shares of the aerospace company’s stock worth $506,000 after buying an additional 2,820 shares during the period. 81.21% of the stock is owned by hedge funds and other institutional investors.
L-3 Communications Holdings, Inc. (LLL) opened at 183.29 on Friday. L-3 Communications Holdings, Inc. has a one year low of $132.38 and a one year high of $185.12. The stock has a market capitalization of $14.34 billion, a P/E ratio of 20.66 and a beta of 1.15. The stock has a 50 day moving average price of $172.85 and a 200-day moving average price of $167.64.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.70 billion. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.88 earnings per share. Analysts anticipate that L-3 Communications Holdings, Inc. will post $8.88 earnings per share for the current year.
L-3 Communications Holdings announced that its board has authorized a share buyback plan on Tuesday, May 9th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 11.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed 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. This represents a $3.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, August 15th. L-3 Communications Holdings’s payout ratio is currently 33.82%.
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LLL has been the subject of a number of research analyst reports. Deutsche Bank AG lifted their target price on L-3 Communications Holdings from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $170.00 target price (up from $160.00) on shares of L-3 Communications Holdings in a research report on Saturday, April 29th. Barclays PLC lowered L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $165.00 to $175.00 in a research report on Monday, May 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $178.00 target price on shares of L-3 Communications Holdings in a research report on Friday, June 2nd. Finally, BidaskClub raised L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. L-3 Communications Holdings currently has an average rating of “Buy” and an average price target of $182.08.
In other news, Chairman Michael T. Strianese sold 22,547 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $169.02, for a total value of $3,810,893.94. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 67,641 shares of company stock worth $11,511,371. Insiders own 2.90% of the company’s stock.
About L-3 Communications Holdings
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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