Janus Henderson Group PLC Buys 707,566 Shares of L-3 Communications Holdings, Inc. (LLL)
Janus Henderson Group PLC boosted its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 7,291.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 717,270 shares of the aerospace company’s stock after buying an additional 707,566 shares during the period. Janus Henderson Group PLC owned 0.92% of L-3 Communications Holdings worth $119,840,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new position in L-3 Communications Holdings during the second quarter worth $100,000. Parallel Advisors LLC boosted its stake in L-3 Communications Holdings by 4.6% during the first quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock worth $103,000 after buying an additional 27 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in L-3 Communications Holdings by 103.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock worth $109,000 after buying an additional 332 shares during the last quarter. FNY Partners Fund LP acquired a new position in L-3 Communications Holdings during the first quarter worth $115,000. Finally, FNY Managed Accounts LLC acquired a new position in L-3 Communications Holdings during the first quarter worth $141,000. 79.08% of the stock is currently owned by institutional investors.
LLL has been the topic of a number of recent research reports. Stifel Nicolaus reissued a “hold” rating and set a $175.00 price objective (up previously from $170.00) on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Cowen and Company reissued a “buy” rating and set a $185.00 price objective on shares of L-3 Communications Holdings in a research note on Thursday, July 20th. Royal Bank Of Canada reissued a “hold” rating and set a $182.00 price objective on shares of L-3 Communications Holdings in a research note on Friday, September 1st. Zacks Investment Research lowered L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BidaskClub raised L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $187.27.
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In related news, insider Ralph Dambrosio sold 5,000 shares of L-3 Communications Holdings stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $180.23, for a total value of $901,150.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $173.49, for a total value of $3,911,679.03. The disclosure for this sale can be found here. Insiders sold 75,622 shares of company stock worth $13,649,909 in the last quarter. 2.90% of the stock is owned by insiders.
Shares of L-3 Communications Holdings, Inc. (LLL) traded down 0.94% during trading on Monday, hitting $187.60. The stock had a trading volume of 30,287 shares. L-3 Communications Holdings, Inc. has a 12-month low of $132.38 and a 12-month high of $192.00. The stock’s 50 day moving average is $184.86 and its 200-day moving average is $173.39. The company has a market cap of $14.67 billion, a PE ratio of 21.15 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last issued its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts forecast that L-3 Communications Holdings, Inc. will post $8.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 17th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 15th. L-3 Communications Holdings’s payout ratio is currently 33.82%.
L-3 Communications Holdings Company Profile
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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