L-3 Communications Holdings Inc. (LLL) To Go Ex-Dividend on November 15th
L-3 Communications Holdings Inc. (NYSE:LLL) announced a quarterly dividend on Tuesday, October 18th. Shareholders of record on Thursday, November 17th will be given a dividend of 0.70 per share on Thursday, December 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, November 15th.
Shares of L-3 Communications Holdings (NYSE:LLL) opened at 150.93 on Monday. The firm’s 50 day moving average is $146.51 and its 200-day moving average is $145.07. The company has a market cap of $11.67 billion, a PE ratio of 33.53 and a beta of 1.05. L-3 Communications Holdings has a 1-year low of $105.88 and a 1-year high of $154.50.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.88 EPS for the quarter, beating the Zacks’ consensus estimate of $1.82 by $0.06. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.54 billion. L-3 Communications Holdings had a net margin of 3.43% and a return on equity of 13.90%. L-3 Communications Holdings’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 EPS. Equities analysts expect that L-3 Communications Holdings will post $7.95 earnings per share for the current year.
Several research firms have issued reports on LLL. Barclays PLC upgraded shares of L-3 Communications Holdings from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $155.00 to $165.00 in a research note on Thursday. Zacks Investment Research cut shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Vertical Research began coverage on shares of L-3 Communications Holdings in a research note on Friday, October 28th. They issued a “hold” rating on the stock. Vertical Group began coverage on shares of L-3 Communications Holdings in a research note on Friday, October 28th. They issued a “hold” rating on the stock. Finally, Drexel Hamilton cut shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $161.54.
In other L-3 Communications Holdings news, Director Arthur L. Simon sold 3,600 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $149.00, for a total value of $536,400.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.30% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. BlackRock Investment Management LLC raised its stake in shares of L-3 Communications Holdings by 9.5% in the second quarter. BlackRock Investment Management LLC now owns 185,054 shares of the company’s stock worth $27,146,000 after buying an additional 16,003 shares during the period. BlackRock Inc. raised its stake in shares of L-3 Communications Holdings by 30.9% in the second quarter. BlackRock Inc. now owns 256,101 shares of the company’s stock worth $37,567,000 after buying an additional 60,382 shares during the period. BlackRock Fund Advisors raised its stake in shares of L-3 Communications Holdings by 4.3% in the second quarter. BlackRock Fund Advisors now owns 1,460,347 shares of the company’s stock worth $214,218,000 after buying an additional 60,455 shares during the period. BlackRock Group LTD raised its stake in shares of L-3 Communications Holdings by 7.4% in the second quarter. BlackRock Group LTD now owns 613,088 shares of the company’s stock worth $89,934,000 after buying an additional 42,283 shares during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of L-3 Communications Holdings during the second quarter worth about $215,000. 80.47% of the stock is currently owned by institutional investors and hedge funds.
About L-3 Communications Holdings
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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