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.

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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.

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Institutional Ownership by Quarter for L-3 Communications Holdings (NYSE:LLL)

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