BNP Paribas Arbitrage SA Has $3,397,000 Position in L-3 Communications Holdings Inc. (LLL)
BNP Paribas Arbitrage SA cut its stake in shares of L-3 Communications Holdings Inc. (NYSE:LLL) by 28.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,535 shares of the company’s stock after selling 8,987 shares during the period. BNP Paribas Arbitrage SA’s holdings in L-3 Communications Holdings were worth $3,397,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of LLL. Tuttle Tactical Management LLC purchased a new stake in L-3 Communications Holdings during the second quarter worth approximately $107,000. PineBridge Investments L.P. increased its stake in L-3 Communications Holdings by 79.7% in the second quarter. PineBridge Investments L.P. now owns 1,003 shares of the company’s stock worth $147,000 after buying an additional 445 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in L-3 Communications Holdings by 77.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,008 shares of the company’s stock worth $148,000 after buying an additional 439 shares during the last quarter. Global X Management Co. LLC increased its stake in L-3 Communications Holdings by 114.8% in the second quarter. Global X Management Co. LLC now owns 1,205 shares of the company’s stock worth $177,000 after buying an additional 644 shares during the last quarter. Finally, Telos Capital Management Inc. purchased a new stake in L-3 Communications Holdings during the second quarter worth approximately $201,000. Institutional investors own 79.19% of the company’s stock.
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) traded up 1.35% during midday trading on Tuesday, hitting $158.63. 474,521 shares of the stock were exchanged. The firm has a market cap of $12.26 billion, a P/E ratio of 35.24 and a beta of 1.05. L-3 Communications Holdings Inc. has a 12-month low of $105.88 and a 12-month high of $158.86. The stock’s 50 day moving average is $146.87 and its 200 day moving average is $146.72.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.06. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. On average, equities research analysts forecast that L-3 Communications Holdings Inc. will post $7.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.77%. L-3 Communications Holdings’s payout ratio is presently 61.95%.
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A number of research firms have recently commented on LLL. Vertical Research began coverage on L-3 Communications Holdings in a report on Friday, October 28th. They set a “hold” rating for the company. Robert W. Baird initiated coverage on shares of L-3 Communications Holdings in a research report on Friday, October 28th. They set an “outperform” rating and a $184.00 price target for the company. Drexel Hamilton cut shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. They noted that the move was a valuation call. Vertical Group initiated coverage on shares of L-3 Communications Holdings in a research report on Friday, October 28th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. raised shares of L-3 Communications Holdings from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $158.00 to $182.00 in a research report on Thursday, August 25th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $161.54.
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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