ING Groep NV increased its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 56.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,447 shares of the company’s stock after buying an additional 1,613 shares during the period. ING Groep NV’s holdings in L-3 Communications Holdings were worth $680,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. bought a new stake in shares of L-3 Communications Holdings during the second quarter valued at about $88,005,000. Columbus Circle Investors bought a new stake in shares of L-3 Communications Holdings during the third quarter valued at about $44,334,000. Ameriprise Financial Inc. raised its stake in shares of L-3 Communications Holdings by 53.4% in the third quarter. Ameriprise Financial Inc. now owns 796,045 shares of the company’s stock valued at $119,990,000 after buying an additional 277,155 shares during the period. Schroder Investment Management Group bought a new stake in shares of L-3 Communications Holdings during the third quarter valued at about $34,940,000. Finally, Scopus Asset Management L.P. bought a new stake in shares of L-3 Communications Holdings during the third quarter valued at about $30,146,000. Hedge funds and other institutional investors own 78.91% of the company’s stock.
L-3 Communications Holdings, Inc. (NYSE:LLL) traded up 0.10% during midday trading on Tuesday, hitting $165.64. The stock had a trading volume of 47,458 shares. L-3 Communications Holdings, Inc. has a one year low of $115.17 and a one year high of $166.43. The stock has a 50-day moving average price of $154.37 and a 200 day moving average price of $151.11. The firm has a market cap of $12.80 billion, a PE ratio of 18.39 and a beta of 1.09.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, January 26th. The company reported $2.38 earnings per share for the quarter, beating 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 company earned $3 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that L-3 Communications Holdings, Inc. will post $8.60 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be given a dividend of $0.75 per share. This is an increase from L-3 Communications Holdings’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, February 27th. L-3 Communications Holdings’s payout ratio is currently 31.08%.
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LLL has been the topic of a number of recent research reports. Barclays PLC upgraded shares of L-3 Communications Holdings from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $155.00 to $165.00 in a research note on Thursday, November 10th. Zacks Investment Research upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $157.00 price target on the stock in a research note on Monday, October 31st. Deutsche Bank AG boosted their price target on shares of L-3 Communications Holdings from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, December 5th. Cowen and Company upgraded shares of L-3 Communications Holdings from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research note on Friday, October 28th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $184.00 price target on shares of L-3 Communications Holdings in a research note on Friday, January 20th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $166.53.
In other news, Chairman Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $157.01, for a total transaction of $3,540,104.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.30% of the stock is owned by insiders.
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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