Voya Investment Management LLC Has $17.46 Million Holdings in L-3 Communications Holdings, Inc. (LLL)
Voya Investment Management LLC lessened its holdings in L-3 Communications Holdings, Inc. (NYSE:LLL) by 86.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,530 shares of the aerospace company’s stock after selling 650,895 shares during the quarter. Voya Investment Management LLC owned 0.13% of L-3 Communications Holdings worth $17,464,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Acrospire Investment Management LLC acquired a new position in shares of L-3 Communications Holdings in the 2nd quarter valued at $100,000. Parallel Advisors LLC lifted its holdings in shares of L-3 Communications Holdings by 4.6% during the 1st quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 27 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of L-3 Communications Holdings by 103.1% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 332 shares during the period. FNY Partners Fund LP bought a new position in shares of L-3 Communications Holdings during the 1st quarter worth about $115,000. Finally, FNY Managed Accounts LLC bought a new position in shares of L-3 Communications Holdings during the 1st quarter worth about $141,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of L-3 Communications Holdings, Inc. (LLL) opened at 190.44 on Wednesday. The company’s 50-day moving average price is $184.12 and its 200-day moving average price is $173.01. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 21.47 and a beta of 1.15. L-3 Communications Holdings, Inc. has a 52-week low of $132.38 and a 52-week high of $192.00.
L-3 Communications Holdings (NYSE:LLL) last released its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, beating the 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 analyst estimates of $2.70 billion. During the same period last year, the firm earned $1.88 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts forecast that L-3 Communications Holdings, Inc. will post $8.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio (DPR) is presently 33.82%.
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LLL has been the topic of a number of analyst reports. Cowen and Company reissued a “buy” rating and issued a $185.00 target price on shares of L-3 Communications Holdings in a research note on Thursday, July 20th. Royal Bank Of Canada restated a “hold” rating and set a $182.00 price target on shares of L-3 Communications Holdings in a research note on Friday, September 1st. ValuEngine upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub raised L-3 Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $205.00 price objective (up from $190.00) on shares of L-3 Communications Holdings in a report on Monday. Nine 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. The company has an average rating of “Buy” and a consensus price target of $187.27.
In related news, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Claude R. Canizares sold 2,981 shares of L-3 Communications Holdings stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total transaction of $541,588.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,622 shares of company stock valued at $13,649,909. 2.90% of the stock is currently owned by insiders.
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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