L-3 Communications Holdings Inc. (LLL) Position Boosted by Sumitomo Mitsui Trust Holdings Inc.
Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of L-3 Communications Holdings Inc. (NYSE:LLL) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,660 shares of the company’s stock after buying an additional 24,373 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.32% of L-3 Communications Holdings worth $36,476,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ING Groep NV purchased a new position in L-3 Communications Holdings during the first quarter worth $206,000. BB&T Securities LLC raised its stake in shares of L-3 Communications Holdings by 125.8% in the first quarter. BB&T Securities LLC now owns 21,204 shares of the company’s stock valued at $2,513,000 after buying an additional 11,813 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of L-3 Communications Holdings during the first quarter valued at approximately $259,000. Pictet Asset Management Ltd. raised its stake in shares of L-3 Communications Holdings by 2.4% in the first quarter. Pictet Asset Management Ltd. now owns 76,699 shares of the company’s stock valued at $8,998,000 after buying an additional 1,800 shares in the last quarter. Finally, Hancock Holding Co. bought a new stake in shares of L-3 Communications Holdings during the first quarter valued at approximately $2,459,000. 80.46% of the stock is currently owned by institutional investors.
L-3 Communications Holdings Inc. (NYSE:LLL) traded down 0.72% during trading on Wednesday, hitting $148.15. 305,739 shares of the stock traded hands. The company’s market cap is $11.44 billion. The firm has a 50-day moving average price of $149.55 and a 200 day moving average price of $142.63. L-3 Communications Holdings Inc. has a 52-week low of $105.88 and a 52-week high of $154.50.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.19. L-3 Communications Holdings had a negative net margin of 0.85% and a positive return on equity of 14.37%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm posted $1.36 EPS. L-3 Communications Holdings’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts expect that L-3 Communications Holdings Inc. will post $7.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.89%. L-3 Communications Holdings’s dividend payout ratio (DPR) is -254.55%.
Several analysts have commented on LLL shares. Jefferies Group lifted their price objective on shares of L-3 Communications Holdings from $135.00 to $150.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. JPMorgan Chase & Co. raised shares of L-3 Communications Holdings from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $158.00 to $182.00 in a research report on Thursday, August 25th. Robert W. Baird started coverage on shares of L-3 Communications Holdings in a research report on Wednesday, October 5th. They issued an “outperform” rating and a $184.00 price objective on the stock. Zacks Investment Research lowered shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $160.00 price objective on shares of L-3 Communications Holdings in a research report on Monday, August 15th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $157.46.
In related news, Director Arthur L. Simon sold 3,600 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $149.00, for a total transaction of $536,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Claude R. Canizares sold 2,469 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $150.23, for a total transaction of $370,917.87. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
L-3 Communications Holdings Company Profile
L-3 Communications Holdings, Inc (L-3 Holdings) operates through its operating subsidiary L-3 Communications (L-3). The Company operates through three segments: Electronic Systems, which provides a range of products and services, including components, products, subsystems, systems and related services to military and commercial customers; Aerospace Systems, which provides products and services for the Intelligence, Surveillance and Reconnaissance (ISR) market, specializing in signals intelligence (SIGINT) and multi-intelligence platforms, and Communication Systems, which provides network and communication systems, secure communications products, radio frequency components, satellite communication terminals, and space, microwave and telemetry products.
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