Employees Retirement System of Texas reduced its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 86.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,000 shares of the aerospace company’s stock after selling 31,000 shares during the period. Employees Retirement System of Texas’ holdings in L-3 Communications Holdings were worth $835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Tudor Investment Corp ET AL purchased a new stake in shares of L-3 Communications Holdings during the 2nd quarter worth $3,209,000. HighTower Advisors LLC boosted its position in shares of L-3 Communications Holdings by 15.3% during the 2nd quarter. HighTower Advisors LLC now owns 46,920 shares of the aerospace company’s stock worth $7,872,000 after purchasing an additional 6,229 shares in the last quarter. First Allied Advisory Services Inc. boosted its position in shares of L-3 Communications Holdings by 0.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,412 shares of the aerospace company’s stock worth $586,000 after purchasing an additional 9 shares in the last quarter. Balyasny Asset Management LLC boosted its position in shares of L-3 Communications Holdings by 952.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 46,582 shares of the aerospace company’s stock worth $7,783,000 after purchasing an additional 42,154 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of L-3 Communications Holdings by 23.8% during the 2nd quarter. Stifel Financial Corp now owns 61,581 shares of the aerospace company’s stock worth $10,301,000 after purchasing an additional 11,824 shares in the last quarter. Institutional investors own 79.08% of the company’s stock.

L-3 Communications Holdings, Inc. (NYSE LLL) opened at 186.10 on Wednesday. L-3 Communications Holdings, Inc. has a 52 week low of $132.38 and a 52 week high of $192.00. The company has a 50-day moving average of $186.23 and a 200 day moving average of $174.23. The firm has a market cap of $14.56 billion, a P/E ratio of 20.98 and a beta of 1.15.

L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, beating 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 business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the company posted $1.88 EPS. L-3 Communications Holdings’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities analysts predict that L-3 Communications Holdings, Inc. will post $8.84 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. L-3 Communications Holdings’s dividend payout ratio (DPR) is 33.82%.

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In related news, insider Ralph Dambrosio sold 5,000 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $180.23, for a total value of $901,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $185.87, for a total value of $4,190,810.89. The disclosure for this sale can be found here. Insiders sold a total of 75,622 shares of company stock valued at $13,649,909 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Several equities research analysts have commented on LLL shares. Cowen and Company restated a “buy” rating and set a $185.00 target price on shares of L-3 Communications Holdings in a research report on Thursday, July 20th. 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. Stifel Nicolaus restated a “hold” rating and set a $175.00 target price (up from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Zacks Investment Research lowered shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and boosted their target price for the stock from $195.00 to $204.00 in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $192.50.

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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