BB&T Securities LLC reduced its position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 44.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,800 shares of the aerospace company’s stock after selling 10,099 shares during the quarter. BB&T Securities LLC’s holdings in L-3 Communications were worth $2,412,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its stake in L-3 Communications by 1.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 328,803 shares of the aerospace company’s stock valued at $61,957,000 after buying an additional 5,884 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in L-3 Communications by 33.8% in the 3rd quarter. Commonwealth Bank of Australia now owns 5,134 shares of the aerospace company’s stock valued at $961,000 after buying an additional 1,298 shares in the last quarter. Wells Fargo & Company MN lifted its stake in L-3 Communications by 3.4% in the 3rd quarter. Wells Fargo & Company MN now owns 912,061 shares of the aerospace company’s stock valued at $171,860,000 after buying an additional 29,963 shares in the last quarter. Zeke Capital Advisors LLC purchased a new position in L-3 Communications in the 3rd quarter valued at about $211,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in L-3 Communications by 9.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,361 shares of the aerospace company’s stock valued at $1,199,000 after buying an additional 575 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on LLL shares. Goldman Sachs Group raised shares of L-3 Communications from a “buy” rating to a “conviction-buy” rating and raised their price target for the company from $195.00 to $204.00 in a research note on Monday, August 7th. Drexel Hamilton raised shares of L-3 Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Cowen reaffirmed a “buy” rating and issued a $190.00 price target on shares of L-3 Communications in a research note on Monday, August 14th. ValuEngine raised shares of L-3 Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $182.00 target price on shares of L-3 Communications in a research note on Friday, September 1st. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $197.50.
Shares of L-3 Communications Holdings, Inc. (NYSE LLL) traded down $2.60 during midday trading on Tuesday, hitting $192.94. 909,600 shares of the stock were exchanged, compared to its average volume of 551,019. The firm has a market cap of $15,080.00, a P/E ratio of 22.68, a P/E/G ratio of 3.89 and a beta of 1.19. 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 Holdings, Inc. has a fifty-two week low of $143.54 and a fifty-two week high of $199.97.
L-3 Communications (NYSE:LLL) last announced its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.03. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.68 billion. L-3 Communications had a net margin of 5.22% and a return on equity of 14.00%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.88 EPS. equities research analysts forecast 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 issued a dividend of $0.75 per share. The ex-dividend date is Thursday, November 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.55%. L-3 Communications’s dividend payout ratio is currently 41.27%.
In other news, insider Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $186.40, for a total transaction of $4,202,760.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 67,639 shares of company stock valued at $12,818,253 in the last 90 days. Insiders own 2.90% of the company’s stock.
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L-3 Communications Company 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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