Cipher Capital LP reduced its holdings in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 92.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,759 shares of the aerospace company’s stock after selling 20,822 shares during the period. Cipher Capital LP’s holdings in L-3 Communications were worth $331,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wedbush Securities Inc. raised its position in L-3 Communications by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 1,322 shares of the aerospace company’s stock worth $221,000 after buying an additional 6 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its holdings in shares of L-3 Communications by 0.6% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 1,314 shares of the aerospace company’s stock valued at $220,000 after purchasing an additional 8 shares in the last quarter. First Allied Advisory Services Inc. increased its holdings in shares of L-3 Communications by 0.3% in the 2nd quarter. First Allied Advisory Services Inc. now owns 3,412 shares of the aerospace company’s stock valued at $586,000 after purchasing an additional 9 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of L-3 Communications by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,786 shares of the aerospace company’s stock valued at $967,000 after purchasing an additional 15 shares in the last quarter. Finally, MAI Capital Management increased its holdings in L-3 Communications by 0.8% during the 2nd quarter. MAI Capital Management now owns 2,015 shares of the aerospace company’s stock valued at $337,000 after acquiring an additional 15 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on LLL shares. Deutsche Bank restated a “buy” rating and set a $205.00 target price (up from $190.00) on shares of L-3 Communications in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of L-3 Communications from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Monday, October 2nd. Cowen restated a “buy” rating and set a $190.00 target price on shares of L-3 Communications in a report on Monday, September 18th. ValuEngine upgraded shares of L-3 Communications from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, SunTrust Banks began coverage on shares of L-3 Communications in a research note on Monday, November 20th. They set a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating, eight 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 an average price target of $197.45.
In related news, insider Michael T. Strianese sold 22,545 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $196.26, for a total value of $4,424,681.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 67,639 shares of company stock worth $12,818,253 in the last 90 days. 2.90% of the stock is currently owned by insiders.
L-3 Communications Holdings, Inc. (LLL) traded down $0.41 on Thursday, hitting $194.64. 770,100 shares of the company traded hands, compared to its average volume of 553,100. 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 twelve month low of $143.54 and a twelve month high of $199.97. The firm has a market capitalization of $15,241.63, a PE ratio of 22.63, a PEG ratio of 3.88 and a beta of 1.19.
L-3 Communications (NYSE:LLL) last released its earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the company earned $1.88 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. research analysts expect that L-3 Communications Holdings, Inc. will post 8.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.75 dividend. The ex-dividend date is Thursday, November 16th. This represents a $3.00 annualized dividend and a dividend yield of 1.54%. L-3 Communications’s dividend payout ratio is presently 41.27%.
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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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