Colony Group LLC bought a new position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 26,649 shares of the company’s stock, valued at approximately $4,017,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. acquired a new stake in L-3 Communications Holdings during the second quarter worth about $88,005,000. Columbus Circle Investors acquired a new stake in L-3 Communications Holdings during the third quarter worth about $44,334,000. Ameriprise Financial Inc. raised its stake in L-3 Communications Holdings by 53.4% in the third quarter. Ameriprise Financial Inc. now owns 796,045 shares of the company’s stock worth $119,990,000 after buying an additional 277,155 shares during the last quarter. Schroder Investment Management Group acquired a new stake in L-3 Communications Holdings during the third quarter worth about $34,940,000. Finally, Scopus Asset Management L.P. acquired a new stake in L-3 Communications Holdings during the third quarter worth about $30,146,000. Institutional investors own 78.91% of the company’s stock.
Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) opened at 163.50 on Monday. The firm has a market capitalization of $12.64 billion, a P/E ratio of 18.15 and a beta of 1.09. The company’s 50-day moving average price is $154.00 and its 200-day moving average price is $150.94. L-3 Communications Holdings, Inc. has a 52-week low of $113.98 and a 52-week high of $164.57.
L-3 Communications Holdings (NYSE:LLL) last announced its earnings results on Thursday, January 26th. The company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.27. L-3 Communications Holdings had a net margin of 6.75% and a return on equity of 14.16%. The business earned $3 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the firm earned $2.16 earnings per share. L-3 Communications Holdings’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts expect that L-3 Communications Holdings, Inc. will post $8.60 EPS for the current fiscal year.
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Several analysts recently issued reports on the company. Barclays PLC upgraded L-3 Communications Holdings from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $155.00 to $165.00 in a report on Thursday, November 10th. Zacks Investment Research upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $157.00 price objective for the company in a report on Monday, October 31st. Deutsche Bank AG increased their price objective on L-3 Communications Holdings from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, December 5th. Cowen and Company upgraded L-3 Communications Holdings from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a report on Friday, October 28th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $184.00 price objective on shares of L-3 Communications Holdings in a report on Friday, January 20th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. L-3 Communications Holdings has a consensus rating of “Buy” and a consensus target price of $166.53.
In other L-3 Communications Holdings news, Chairman Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $157.01, for a total value of $3,540,104.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.30% of the company’s stock.
L-3 Communications Holdings Company Profile
L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is engaged as a contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment (including modifications, logistics and maintenance), simulation and training, night vision and image intensification equipment, and security and detection systems.
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