Zeke Capital Advisors LLC purchased a new position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,122 shares of the aerospace company’s stock, valued at approximately $211,000.
Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new stake in shares of L-3 Communications in the 2nd quarter valued at approximately $100,000. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of L-3 Communications by 103.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after buying an additional 332 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of L-3 Communications in the 2nd quarter valued at approximately $171,000. NEXT Financial Group Inc boosted its holdings in shares of L-3 Communications by 53.8% in the 3rd quarter. NEXT Financial Group Inc now owns 1,012 shares of the aerospace company’s stock valued at $190,000 after buying an additional 354 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new stake in shares of L-3 Communications in the 3rd quarter valued at approximately $202,000. 78.79% of the stock is owned by hedge funds and other institutional investors.
Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) traded down $2.60 during trading on Tuesday, reaching $192.94. The company’s stock had a trading volume of 909,600 shares, compared to its average volume of 551,019. L-3 Communications Holdings, Inc. has a fifty-two week low of $143.54 and a fifty-two week high of $199.97. The firm has a market cap of $15,080.00, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 3.89 and a beta of 1.19. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 0.66.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 16th. L-3 Communications’s payout ratio is 41.27%.
Several equities research analysts have recently commented on the company. Drexel Hamilton raised L-3 Communications from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. ValuEngine downgraded L-3 Communications from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Goldman Sachs Group raised L-3 Communications from a “buy” rating to a “conviction-buy” rating and increased their price objective for the company from $195.00 to $204.00 in a report on Monday, August 7th. Cowen reissued a “buy” rating and issued a $200.00 price objective (up previously from $190.00) on shares of L-3 Communications in a report on Tuesday, October 3rd. Finally, Bank of America increased their price objective on L-3 Communications from $185.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 10th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. L-3 Communications presently has a consensus rating of “Buy” and an average price target of $197.50.
In other L-3 Communications news, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $186.40, for a total transaction of $4,202,760.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 67,639 shares of company stock worth $12,818,253 in the last quarter. Company insiders own 2.90% of the company’s stock.
L-3 Communications 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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