Cornerstone Capital Management Holdings LLC. Sells 56,210 Shares of L-3 Communications Holdings, Inc. (NYSE:LLL)

Cornerstone Capital Management Holdings LLC. cut its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 79.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,467 shares of the aerospace company’s stock after selling 56,210 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in L-3 Communications Holdings were worth $2,417,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of LLL. Acrospire Investment Management LLC acquired a new position in L-3 Communications Holdings during the second quarter valued at approximately $100,000. Bronfman E.L. Rothschild L.P. boosted its position in L-3 Communications Holdings by 103.1% during the second 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 acquired a new position in L-3 Communications Holdings during the first quarter valued at approximately $115,000. FNY Managed Accounts LLC acquired a new position in L-3 Communications Holdings during the first quarter valued at approximately $141,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in L-3 Communications Holdings during the second quarter valued at approximately $171,000. 79.05% of the stock is owned by hedge funds and other institutional investors.

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L-3 Communications Holdings, Inc. (NYSE LLL) traded up 2.300% during mid-day trading on Friday, reaching $189.715. The company had a trading volume of 112,245 shares. The stock has a market capitalization of $14.84 billion, a PE ratio of 21.386 and a beta of 1.15. The company’s 50-day moving average is $187.34 and its 200-day moving average is $175.48. L-3 Communications Holdings, Inc. has a one year low of $132.38 and a one year high of $192.00.

L-3 Communications Holdings (NYSE:LLL) last posted its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.93 by $0.03. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. L-3 Communications Holdings’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts anticipate that L-3 Communications Holdings, Inc. will post $8.72 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $3.00 annualized dividend and a yield of 1.62%. L-3 Communications Holdings’s payout ratio is 33.82%.

A number of research firms have recently issued reports on LLL. Stifel Nicolaus raised their price objective on L-3 Communications Holdings from $195.00 to $205.00 and gave the company a “hold” rating in a research report on Friday. Zacks Investment Research cut L-3 Communications Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $185.00 price objective (up from $175.00) on shares of L-3 Communications Holdings in a research report on Tuesday, October 10th. Bank of America Corporation raised their price objective on L-3 Communications Holdings from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 10th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of L-3 Communications Holdings in a research report on Sunday, October 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $195.50.

In other L-3 Communications Holdings news, insider Ralph Dambrosio sold 5,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $180.23, for a total transaction of $901,150.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $173.49, for a total value of $3,911,679.03. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,622 shares of company stock worth $13,649,909. 2.90% of the stock is owned by company insiders.

About L-3 Communications Holdings

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.

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

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