Victory Capital Management Inc. raised its stake in L-3 Communications Holdings, Inc. (NYSE:LLL) by 2,744.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 338,645 shares of the aerospace company’s stock after buying an additional 326,739 shares during the quarter. Victory Capital Management Inc. owned about 0.43% of L-3 Communications Holdings worth $63,811,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in LLL. Boston Partners lifted its stake in L-3 Communications Holdings by 80.6% in the second quarter. Boston Partners now owns 2,114,987 shares of the aerospace company’s stock valued at $353,372,000 after buying an additional 944,150 shares in the last quarter. Janus Henderson Group PLC lifted its stake in L-3 Communications Holdings by 7,291.5% in the second quarter. Janus Henderson Group PLC now owns 717,270 shares of the aerospace company’s stock valued at $119,840,000 after buying an additional 707,566 shares in the last quarter. Vanguard Group Inc. lifted its stake in L-3 Communications Holdings by 5.3% in the second quarter. Vanguard Group Inc. now owns 8,556,292 shares of the aerospace company’s stock valued at $1,429,586,000 after buying an additional 431,776 shares in the last quarter. BlackRock Inc. lifted its stake in L-3 Communications Holdings by 5.8% in the second quarter. BlackRock Inc. now owns 5,734,197 shares of the aerospace company’s stock valued at $958,069,000 after buying an additional 313,761 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in L-3 Communications Holdings in the second quarter valued at approximately $279,000. 78.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on LLL shares. Cowen and Company reaffirmed a “buy” rating and issued a $185.00 price target on shares of L-3 Communications Holdings in a research note on Thursday, July 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 price target on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $175.00 price target (up previously from $170.00) on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Zacks Investment Research lowered shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and lifted their price target for the company from $195.00 to $204.00 in a research note on Monday, August 7th. Eight research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $195.50.
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Shares of L-3 Communications Holdings, Inc. (NYSE LLL) opened at $186.52 on Friday. The firm has a market cap of $14.66 billion, a PE ratio of 21.76, a P/E/G ratio of 3.54 and a beta of 1.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.80.
L-3 Communications Holdings (NYSE:LLL) last issued its earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.03. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.68 billion. L-3 Communications Holdings had a return on equity of 14.00% and a net margin of 5.22%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.88 EPS. equities research analysts expect that L-3 Communications Holdings, Inc. will post 8.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, November 16th. L-3 Communications Holdings’s dividend payout ratio is currently 41.27%.
In related news, insider Ralph Dambrosio sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $180.23, for a total value of $901,150.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $186.40, for a total value of $4,202,760.80. The disclosure for this sale can be found here. Insiders sold 75,622 shares of company stock worth $13,940,991 over the last quarter. 2.90% of the stock is currently owned by insiders.
L-3 Communications Holdings 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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