FIL Ltd Reduces Holdings in L-3 Communications Holdings, Inc. (LLL)

FIL Ltd lessened its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 24.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,045,370 shares of the aerospace company’s stock after selling 675,408 shares during the period. L-3 Communications Holdings accounts for approximately 1.0% of FIL Ltd’s holdings, making the stock its 22nd biggest position. FIL Ltd owned 2.61% of L-3 Communications Holdings worth $341,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new position in shares of L-3 Communications Holdings during the 2nd quarter valued at about $100,000. Parallel Advisors LLC boosted 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 valued at $103,000 after purchasing an additional 27 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted 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 valued at $109,000 after purchasing an additional 332 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of L-3 Communications Holdings during the 1st quarter valued at about $115,000. Finally, FNY Managed Accounts LLC purchased a new stake in shares of L-3 Communications Holdings during the 1st quarter valued at about $141,000. 79.08% of the stock is owned by institutional investors and hedge funds.

In other L-3 Communications Holdings news, Director Claude R. Canizares sold 2,981 shares of L-3 Communications Holdings stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total transaction of $541,588.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $169.02, for a total transaction of $3,810,893.94. The disclosure for this sale can be found here. Insiders have sold 75,622 shares of company stock worth $13,269,992 over the last ninety days. 2.90% of the stock is owned by insiders.

L-3 Communications Holdings, Inc. (NYSE:LLL) traded up 0.70% during mid-day trading on Thursday, reaching $190.84. 157,249 shares of the company were exchanged. The company has a 50 day moving average of $181.04 and a 200-day moving average of $171.55. The company has a market capitalization of $14.93 billion, a price-to-earnings ratio of 21.51 and a beta of 1.15. L-3 Communications Holdings, Inc. has a 1-year low of $132.38 and a 1-year high of $191.25.

L-3 Communications Holdings (NYSE:LLL) last issued its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. L-3 Communications Holdings’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that L-3 Communications Holdings, Inc. will post $8.88 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 17th were paid a dividend of $0.75 per share. 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 dividend payout ratio (DPR) is presently 33.82%.

Several analysts have recently issued reports on the stock. Cowen and Company restated a “buy” rating and set a $190.00 target price on shares of L-3 Communications Holdings in a research report on Monday. ValuEngine upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Royal Bank Of Canada restated a “hold” rating and set a $182.00 target price on shares of L-3 Communications Holdings in a research report on Friday, September 1st. Drexel Hamilton upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC restated a “hold” rating and set a $175.00 target price on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $182.91.

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L-3 Communications Holdings 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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Institutional Ownership by Quarter for L-3 Communications Holdings (NYSE:LLL)

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