L-3 Communications Holdings, Inc. (LLL) Short Interest Down 33.6% in October

L-3 Communications Holdings, Inc. (NYSE:LLL) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 669,471 shares, a decline of 33.6% from the October 13th total of 1,007,903 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 471,644 shares, the short-interest ratio is currently 1.4 days.

Shares of L-3 Communications Holdings (LLL) opened at $184.22 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 0.66. L-3 Communications Holdings has a 12 month low of $143.54 and a 12 month high of $192.00. The stock has a market capitalization of $14,395.32, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 3.48 and a beta of 1.18.

L-3 Communications Holdings (NYSE:LLL) last released 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. L-3 Communications Holdings had a return on equity of 14.00% and a net margin of 5.22%. 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 previous year, the company posted $1.88 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. sell-side analysts expect that L-3 Communications Holdings will post 8.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, November 16th. L-3 Communications Holdings’s payout ratio is 41.27%.

Several analysts recently issued reports on the company. Cowen and Company reissued a “buy” rating and set 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 target price (up previously from $190.00) on shares of L-3 Communications Holdings in a research note on Monday, October 2nd. 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 research note on Monday, October 2nd. ValuEngine raised L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Drexel Hamilton raised L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $195.50.

In other news, insider Ralph Dambrosio sold 5,000 shares of L-3 Communications Holdings stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $182.05, for a total value of $4,104,681.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,622 shares of company stock worth $13,940,991. Insiders own 2.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Guyasuta Investment Advisors Inc. increased its stake in L-3 Communications Holdings by 0.8% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 142,593 shares of the aerospace company’s stock worth $23,825,000 after acquiring an additional 1,199 shares during the last quarter. Commonwealth Bank of Australia increased its stake in L-3 Communications Holdings by 7,891.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,836 shares of the aerospace company’s stock worth $639,000 after acquiring an additional 3,788 shares during the last quarter. Wells Fargo & Company MN increased its stake in L-3 Communications Holdings by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 882,098 shares of the aerospace company’s stock worth $147,381,000 after acquiring an additional 22,463 shares during the last quarter. Aberdeen Asset Management PLC UK increased its stake in L-3 Communications Holdings by 103.8% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 171,201 shares of the aerospace company’s stock worth $28,605,000 after acquiring an additional 87,195 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in L-3 Communications Holdings by 102.8% in the 2nd quarter. Royal Bank of Canada now owns 58,870 shares of the aerospace company’s stock worth $9,836,000 after acquiring an additional 29,845 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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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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