Capstone Asset Management Co. reduced its stake in L-3 Communications Holdings, Inc. (NYSE:LLL) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,782 shares of the aerospace company’s stock after selling 360 shares during the period. Capstone Asset Management Co.’s holdings in L-3 Communications Holdings were worth $799,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. National Pension Service acquired a new stake in shares of L-3 Communications Holdings during the first quarter worth $11,926,000. Gulf International Bank UK Ltd increased its stake in shares of L-3 Communications Holdings by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 24,598 shares of the aerospace company’s stock worth $4,065,000 after buying an additional 300 shares during the last quarter. Creative Planning acquired a new stake in shares of L-3 Communications Holdings during the first quarter worth $559,000. Raymond James Trust N.A. increased its stake in shares of L-3 Communications Holdings by 20.6% in the first quarter. Raymond James Trust N.A. now owns 3,278 shares of the aerospace company’s stock worth $542,000 after buying an additional 559 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of L-3 Communications Holdings during the first quarter worth $264,000. 82.67% of the stock is owned by institutional investors and hedge funds.

Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) traded down 0.29% during trading on Friday, hitting $178.08. The stock had a trading volume of 413,960 shares. The firm has a 50 day moving average of $175.22 and a 200 day moving average of $168.82. The company has a market capitalization of $13.93 billion, a price-to-earnings ratio of 20.07 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 $185.12.

L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted $1.88 earnings per share. L-3 Communications Holdings’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that L-3 Communications Holdings, Inc. will post $8.87 EPS for the current fiscal year.

L-3 Communications Holdings announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 9th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the aerospace company to buy up to 11.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio is presently 33.82%.

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A number of equities research analysts have weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price target on shares of L-3 Communications Holdings in a report on Sunday, July 30th. Cowen and Company reissued a “buy” rating and issued a $190.00 price target on shares of L-3 Communications Holdings in a report on Monday, August 14th. Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and upped their price target for the company from $195.00 to $204.00 in a report on Monday, August 7th. Royal Bank Of Canada reissued a “hold” rating and issued a $178.00 price target on shares of L-3 Communications Holdings in a report on Friday, June 2nd. Finally, Drexel Hamilton raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $182.50.

In related news, Director Claude R. Canizares sold 2,981 shares of L-3 Communications Holdings stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $181.68, for a total value of $541,588.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $168.04, for a total value of $3,788,797.88. The disclosure for this sale can be found here. In the last three months, insiders sold 70,622 shares of company stock worth $12,052,959. 2.90% of the stock is 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.

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

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