Bessemer Group Inc. Purchases Shares of 3,845 L-3 Communications Holdings, Inc. (LLL)
Bessemer Group Inc. purchased a new stake in L-3 Communications Holdings, Inc. (NYSE:LLL) during the second quarter, Holdings Channel reports. The firm purchased 3,845 shares of the aerospace company’s stock, valued at approximately $642,000.
A number of other hedge funds also recently bought and sold shares of LLL. Strs Ohio bought a new stake in L-3 Communications Holdings during the first quarter valued at about $1,542,000. Duncker Streett & Co. Inc. bought a new stake in L-3 Communications Holdings during the first quarter valued at about $967,000. Glen Harbor Capital Management LLC bought a new stake in L-3 Communications Holdings during the first quarter valued at about $9,498,000. Acadian Asset Management LLC bought a new stake in L-3 Communications Holdings during the first quarter valued at about $4,466,000. Finally, ProShare Advisors LLC raised its stake in L-3 Communications Holdings by 0.9% in the first quarter. ProShare Advisors LLC now owns 18,549 shares of the aerospace company’s stock valued at $3,066,000 after buying an additional 169 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.
L-3 Communications Holdings, Inc. (LLL) opened at 178.59 on Friday. The company’s 50-day moving average is $174.87 and its 200 day moving average is $168.67. L-3 Communications Holdings, Inc. has a one year low of $132.38 and a one year high of $185.12. The company has a market capitalization of $13.97 billion, a P/E ratio of 20.13 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the company posted $1.88 earnings per share. L-3 Communications Holdings’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that L-3 Communications Holdings, Inc. will post $8.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 1.68%. L-3 Communications Holdings’s dividend payout ratio (DPR) is presently 33.82%.
L-3 Communications Holdings announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 9th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 11.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: This news story was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/08/18/bessemer-group-inc-purchases-shares-of-3845-l-3-communications-holdings-inc-lll.html.
Several analysts have issued reports on the stock. Cowen and Company restated a “buy” rating and issued a $190.00 price target on shares of L-3 Communications Holdings in a research report on Monday. Drexel Hamilton upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price target on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Stifel Nicolaus restated a “hold” rating and issued a $175.00 price target (up from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and lifted their target price for the company from $195.00 to $204.00 in a research report on Monday, August 7th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $182.50.
In other L-3 Communications Holdings news, Director Claude R. Canizares sold 2,981 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total transaction of $541,588.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $168.04, for a total transaction of $3,788,797.88. The disclosure for this sale can be found here. Insiders sold 70,622 shares of company stock worth $12,052,959 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding LLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L-3 Communications Holdings, Inc. (NYSE:LLL).
Receive News & Stock Ratings for L-3 Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L-3 Communications Holdings Inc. and related stocks with our FREE daily email newsletter.