Caisse DE Depot ET Placement DU Quebec increased its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,600 shares of the aerospace company’s stock after acquiring an additional 600 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in L-3 Communications were worth $5,790,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of LLL. Acrospire Investment Management LLC bought a new position in shares of L-3 Communications in the second quarter valued at $100,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of L-3 Communications by 103.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after buying an additional 332 shares in the last quarter. Invictus RG bought a new position in shares of L-3 Communications in the third quarter valued at $135,000. NEXT Financial Group Inc lifted its stake in shares of L-3 Communications by 53.8% in the third quarter. NEXT Financial Group Inc now owns 1,012 shares of the aerospace company’s stock valued at $190,000 after buying an additional 354 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in shares of L-3 Communications in the second quarter valued at $171,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.
L-3 Communications Holdings, Inc. (NYSE:LLL) opened at $193.85 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. L-3 Communications Holdings, Inc. has a 12-month low of $143.54 and a 12-month high of $199.97. The firm has a market cap of $15,147.83, a PE ratio of 22.49, a P/E/G ratio of 3.25 and a beta of 1.19.
L-3 Communications (NYSE:LLL) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.03. L-3 Communications had a net margin of 5.22% and a return on equity of 14.00%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the firm earned $1.88 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. research analysts predict that L-3 Communications Holdings, Inc. will post 8.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, November 16th. L-3 Communications’s payout ratio is currently 41.27%.
In related news, insider Michael T. Strianese sold 22,545 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $196.26, for a total transaction of $4,424,681.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 67,639 shares of company stock worth $12,818,253 over the last three months. 2.90% of the stock is owned by insiders.
LLL has been the topic of a number of recent research reports. Zacks Investment Research raised shares of L-3 Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group reaffirmed a “hold” rating and issued a $185.00 price objective (up from $175.00) on shares of L-3 Communications in a research note on Tuesday, October 10th. Stifel Nicolaus dropped their price objective on shares of L-3 Communications from $195.00 to $175.00 and set a “hold” rating on the stock in a research note on Monday, October 16th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $182.00 price objective on shares of L-3 Communications in a research note on Friday, September 1st. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of L-3 Communications in a research note on Thursday. Seven research 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. The company presently has a consensus rating of “Buy” and a consensus target price of $198.36.
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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