Kentucky Retirement Systems bought a new stake in L-3 Communications Holdings Inc. (NYSE:LLL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 6,544 shares of the company’s stock, valued at approximately $960,000.
A number of other large investors also recently modified their holdings of the company. Tuttle Tactical Management LLC bought a new stake in shares of L-3 Communications Holdings during the second quarter valued at $107,000. PineBridge Investments L.P. raised its stake in shares of 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 valued at $147,000 after buying an additional 445 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in shares of 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 valued at $148,000 after buying an additional 439 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of 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 valued at $177,000 after buying an additional 644 shares in the last quarter. Finally, Telos Capital Management Inc. bought a new stake in shares of L-3 Communications Holdings during the second quarter valued at $201,000. 79.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) traded up 0.88% during midday trading on Friday, reaching $156.36. The company had a trading volume of 232,870 shares. L-3 Communications Holdings Inc. has a 52-week low of $105.88 and a 52-week high of $156.65. The company’s 50-day moving average is $146.73 and its 200-day moving average is $146.43. The firm has a market cap of $12.09 billion, a P/E ratio of 34.73 and a beta of 1.05.
L-3 Communications Holdings (NYSE:LLL) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.06. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 3.43%. The firm earned $2.50 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts expect that L-3 Communications Holdings Inc. will post $7.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be given a $0.70 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.79%. L-3 Communications Holdings’s payout ratio is 61.95%.
LLL has been the subject of several recent analyst reports. Citigroup Inc. increased their price target on L-3 Communications Holdings from $174.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, October 10th. Deutsche Bank AG reissued a “buy” rating on shares of L-3 Communications Holdings in a research note on Thursday, October 27th. Zacks Investment Research raised L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a research note on Wednesday, September 28th. Jefferies Group increased their price target on L-3 Communications Holdings from $135.00 to $150.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Finally, Drexel Hamilton cut L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $161.54.
About L-3 Communications Holdings
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.