Bourgeon Capital Management LLC Has $4.33 Million Position in L-3 Communications Holdings, Inc. (LLL)
Bourgeon Capital Management LLC reduced its position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,899 shares of the aerospace company’s stock after selling 550 shares during the period. L-3 Communications Holdings makes up approximately 2.7% of Bourgeon Capital Management LLC’s portfolio, making the stock its 14th largest position. Bourgeon Capital Management LLC’s holdings in L-3 Communications Holdings were worth $4,327,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of LLL. Parallel Advisors LLC raised its stake in L-3 Communications Holdings by 4.6% in 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 in the last quarter. FNY Partners Fund LP purchased a new stake in L-3 Communications Holdings during the first quarter worth approximately $115,000. FNY Managed Accounts LLC purchased a new stake in L-3 Communications Holdings during the first quarter worth approximately $141,000. Heritage Trust Co purchased a new stake in L-3 Communications Holdings during the first quarter worth approximately $165,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in L-3 Communications Holdings during the first quarter worth approximately $174,000. 81.21% of the stock is currently owned by institutional investors.
L-3 Communications Holdings, Inc. (NYSE:LLL) opened at 183.63 on Friday. L-3 Communications Holdings, Inc. has a 52 week low of $132.38 and a 52 week high of $185.12. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 20.70 and a beta of 1.15. The company’s 50-day moving average is $173.27 and its 200 day moving average is $167.88.
L-3 Communications Holdings (NYSE:LLL) last announced its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the business posted $1.88 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that L-3 Communications Holdings, Inc. will post $8.88 EPS for the current fiscal year.
L-3 Communications Holdings announced that its Board of Directors has approved a share buyback plan on Tuesday, May 9th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the aerospace company to reacquire up to 11.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio (DPR) is presently 33.82%.
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A number of equities research analysts have recently commented on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 price objective on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and upped their price objective for the company from $195.00 to $204.00 in a research note on Monday, August 7th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $178.00 price objective on shares of L-3 Communications Holdings in a research note on Friday, June 2nd. Drexel Hamilton raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Deutsche Bank AG upped their price objective on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Nine 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 stock. L-3 Communications Holdings presently has a consensus rating of “Buy” and an average target price of $182.08.
In other news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $168.04, for a total transaction of $3,788,797.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 67,641 shares of company stock worth $11,511,371. Company insiders own 2.90% of the company’s stock.
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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