Employees Retirement System of Texas cut its position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 86.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the aerospace company’s stock after selling 31,000 shares during the quarter. Employees Retirement System of Texas’ holdings in L-3 Communications Holdings were worth $835,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in L-3 Communications Holdings by 5.3% during the second quarter. Vanguard Group Inc. now owns 8,556,292 shares of the aerospace company’s stock worth $1,429,586,000 after purchasing an additional 431,776 shares during the last quarter. BlackRock Inc. lifted its stake in L-3 Communications Holdings by 5.8% in the second quarter. BlackRock Inc. now owns 5,734,197 shares of the aerospace company’s stock valued at $958,069,000 after buying an additional 313,761 shares during the last quarter. State Street Corp lifted its stake in L-3 Communications Holdings by 3.7% in the first quarter. State Street Corp now owns 3,677,881 shares of the aerospace company’s stock valued at $607,919,000 after buying an additional 132,410 shares during the last quarter. Boston Partners lifted its stake in L-3 Communications Holdings by 80.6% in the second quarter. Boston Partners now owns 2,114,987 shares of the aerospace company’s stock valued at $353,372,000 after buying an additional 944,150 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in L-3 Communications Holdings by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 941,274 shares of the aerospace company’s stock valued at $157,265,000 after buying an additional 27,812 shares during the last quarter. Hedge funds and other institutional investors own 79.05% of the company’s stock.
Shares of L-3 Communications Holdings, Inc. (LLL) traded up 2.300% during trading on Friday, reaching $189.715. The company had a trading volume of 112,245 shares. The company has a 50 day moving average of $187.34 and a 200-day moving average of $175.48. The firm has a market capitalization of $14.84 billion, a P/E ratio of 21.386 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 posted its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.03. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.68 billion. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. L-3 Communications Holdings’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $1.88 earnings per share. Equities analysts expect 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 issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.62%. L-3 Communications Holdings’s payout ratio is presently 33.82%.
LLL has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated a “hold” rating and issued a $182.00 target price on shares of L-3 Communications Holdings in a research note on Friday, September 1st. Cowen and Company reiterated 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. Deutsche Bank AG reissued a “buy” rating and set a $205.00 price target (up from $190.00) on shares of L-3 Communications Holdings in a report on Monday, October 2nd. ValuEngine raised L-3 Communications Holdings from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $195.50.
In related news, insider Ralph Dambrosio sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $180.23, for a total transaction of $901,150.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael T. Strianese sold 22,547 shares of the 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,622 shares of company stock valued at $13,649,909. 2.90% of the stock is owned by corporate insiders.
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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.
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