State Treasurer State of Michigan maintained its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,596 shares of the aerospace company’s stock at the end of the second quarter. State Treasurer State of Michigan’s holdings in L-3 Communications Holdings were worth $4,277,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in LLL. Cleararc Capital Inc. boosted its position in shares of L-3 Communications Holdings by 0.3% in the first quarter. Cleararc Capital Inc. now owns 1,755 shares of the aerospace company’s stock worth $290,000 after buying an additional 5 shares during the last quarter. Northeast Financial Consultants Inc raised its stake in L-3 Communications Holdings by 0.3% in the first quarter. Northeast Financial Consultants Inc now owns 3,323 shares of the aerospace company’s stock worth $549,000 after buying an additional 10 shares during the period. Parallel Advisors LLC raised its stake 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 buying an additional 27 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in L-3 Communications Holdings by 2.8% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 1,867 shares of the aerospace company’s stock worth $312,000 after buying an additional 51 shares during the period. Finally, Pacer Advisors Inc. raised its stake in L-3 Communications Holdings by 3.6% in the first quarter. Pacer Advisors Inc. now owns 1,575 shares of the aerospace company’s stock worth $260,000 after buying an additional 55 shares during the period. 81.21% of the stock is owned by institutional investors.
Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) traded up 0.19% on Friday, reaching $183.63. The company’s stock had a trading volume of 657,404 shares. The stock has a 50-day moving average of $173.27 and a 200 day moving average of $167.88. The stock has a market capitalization of $14.36 billion, a PE ratio of 20.70 and a beta of 1.15. L-3 Communications Holdings, Inc. has a 1-year low of $132.38 and a 1-year high of $185.12.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.18. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.70 billion. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.88 earnings per share. On average, equities analysts forecast that L-3 Communications Holdings, Inc. will post $8.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a $0.75 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.63%. L-3 Communications Holdings’s dividend payout ratio (DPR) is currently 33.82%.
L-3 Communications Holdings declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 9th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the aerospace company to buy up to 11.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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LLL has been the subject of several analyst reports. Stifel Nicolaus restated a “hold” rating and set a $175.00 price target (up from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Barclays PLC cut L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $165.00 to $175.00 in a research note on Monday, May 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 price objective (up from $160.00) on shares of L-3 Communications Holdings in a research note on Saturday, April 29th. Cowen and Company reiterated a “buy” rating and issued a $185.00 price objective on shares of L-3 Communications Holdings in a research note on Thursday, July 20th. Finally, Zacks Investment Research cut L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $182.08.
In other news, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $173.49, for a total value of $3,911,679.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 67,641 shares of company stock valued at $11,511,371 in the last three months. Company insiders own 2.90% of the company’s stock.
About L-3 Communications Holdings
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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