Toronto Dominion Bank lifted its stake in L-3 Communications Holdings, Inc. (NYSE:LLL) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,657 shares of the aerospace company’s stock after acquiring an additional 3,278 shares during the period. Toronto Dominion Bank’s holdings in L-3 Communications were worth $5,587,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in LLL. Fox Run Management L.L.C. purchased a new stake in L-3 Communications during the 2nd quarter valued at about $200,000. Bank of Montreal Can raised its holdings in shares of L-3 Communications by 32.2% during the second quarter. Bank of Montreal Can now owns 22,594 shares of the aerospace company’s stock valued at $3,776,000 after acquiring an additional 5,498 shares during the last quarter. Creative Planning raised its holdings in shares of L-3 Communications by 6.0% during the second quarter. Creative Planning now owns 3,583 shares of the aerospace company’s stock valued at $599,000 after acquiring an additional 203 shares during the last quarter. LS Investment Advisors LLC raised its holdings in shares of L-3 Communications by 6.5% during the second quarter. LS Investment Advisors LLC now owns 2,443 shares of the aerospace company’s stock valued at $408,000 after acquiring an additional 150 shares during the last quarter. Finally, Aperio Group LLC raised its holdings in shares of L-3 Communications by 10.3% during the second quarter. Aperio Group LLC now owns 26,353 shares of the aerospace company’s stock valued at $4,403,000 after acquiring an additional 2,467 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.
In other news, insider Michael T. Strianese sold 22,545 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 67,639 shares of company stock valued at $12,818,253. Company insiders own 2.90% of the company’s stock.
LLL has been the subject of several recent research reports. Cowen reaffirmed a “buy” rating and issued a $200.00 price target (up previously from $190.00) on shares of L-3 Communications in a report on Tuesday, October 3rd. Deutsche Bank reaffirmed a “buy” rating and issued a $205.00 price target (up previously from $190.00) on shares of L-3 Communications in a report on Monday, October 2nd. Zacks Investment Research upgraded L-3 Communications from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research report on Monday, October 2nd. ValuEngine upgraded L-3 Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Drexel Hamilton upgraded L-3 Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $197.50.
Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) traded down $2.60 during trading on Monday, reaching $192.94. The company had a trading volume of 909,632 shares, compared to its average volume of 551,019. The stock has a market capitalization of $15,279.92, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 3.89 and a beta of 1.19. L-3 Communications Holdings, Inc. has a 52 week low of $143.54 and a 52 week high of $199.97. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 0.66.
L-3 Communications (NYSE:LLL) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.93 by $0.03. L-3 Communications had a return on equity of 14.00% and a net margin of 5.22%. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the business posted $1.88 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. equities research analysts predict that L-3 Communications Holdings, Inc. will post 8.92 earnings per share 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%.
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L-3 Communications 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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