Americafirst Capital Management LLC purchased a new position in L-3 Communications Holdings, Inc. (NYSE:LLL) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,783 shares of the aerospace company’s stock, valued at approximately $465,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC purchased a new position in L-3 Communications Holdings in the second quarter worth about $100,000. Parallel Advisors LLC grew its position in L-3 Communications Holdings by 4.6% in the first quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 27 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in L-3 Communications Holdings by 103.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 332 shares in the last quarter. FNY Partners Fund LP purchased a new position in L-3 Communications Holdings in the first quarter worth about $115,000. Finally, FNY Managed Accounts LLC purchased a new position in L-3 Communications Holdings in the first quarter worth about $141,000. Institutional investors own 79.08% of the company’s stock.
L-3 Communications Holdings, Inc. (NYSE LLL) traded down 0.3200% during trading on Friday, reaching $188.2158. 58,584 shares of the company’s stock traded hands. The company has a market cap of $14.72 billion, a PE ratio of 21.2170 and a beta of 1.15. The company has a 50 day moving average price of $185.82 and a 200-day moving average price of $173.96. L-3 Communications Holdings, Inc. has a 12-month low of $132.38 and a 12-month high of $192.00.
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 for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The business had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the business earned $1.88 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that L-3 Communications Holdings, Inc. will post $8.85 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 17th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, August 15th. This represents a $3.00 annualized dividend and a yield of 1.59%. L-3 Communications Holdings’s dividend payout ratio is currently 33.82%.
LLL has been the subject of several recent research reports. Cowen and Company reiterated a “buy” rating and issued a $185.00 price target on shares of L-3 Communications Holdings in a research report on Thursday, July 20th. Jefferies Group LLC restated a “hold” rating and set a $175.00 target price on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Stifel Nicolaus restated a “hold” rating and set a $175.00 target price (up previously from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Zacks Investment Research lowered L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) upgraded L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and boosted their target price for the company from $195.00 to $204.00 in a research report on Monday, August 7th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $192.50.
In related news, Director Claude R. Canizares sold 2,981 shares of L-3 Communications Holdings stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total transaction of $541,588.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $173.49, for a total transaction of $3,911,679.03. The disclosure for this sale can be found here. Insiders have sold a total of 75,622 shares of company stock worth $13,649,909 over the last quarter. 2.90% of the stock is owned by company insiders.
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L-3 Communications Holdings 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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