Conning Inc. decreased its position in L-3 Communications Holdings Inc. (NYSE:LLL) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,389 shares of the company’s stock after selling 110 shares during the period. Conning Inc.’s holdings in L-3 Communications Holdings were worth $350,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc increased its position in L-3 Communications Holdings by 21.3% in the first quarter. IFP Advisors Inc now owns 1,515 shares of the company’s stock worth $180,000 after buying an additional 266 shares in the last quarter. ING Groep NV purchased a new position in L-3 Communications Holdings during the first quarter worth about $206,000. Wendell David Associates Inc. purchased a new position in L-3 Communications Holdings during the second quarter worth about $224,000. Indiana Trust & Investment Management CO purchased a new position in L-3 Communications Holdings during the second quarter worth about $226,000. Finally, Meeder Asset Management Inc. purchased a new position in L-3 Communications Holdings during the first quarter worth about $259,000. 80.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) traded up 0.20% during midday trading on Monday, hitting $151.03. The stock had a trading volume of 570,680 shares. L-3 Communications Holdings Inc. has a 12 month low of $105.88 and a 12 month high of $154.50. The firm’s market cap is $11.67 billion. The stock’s 50 day moving average price is $149.16 and its 200 day moving average price is $140.33.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.69 by $0.19. L-3 Communications Holdings had a positive return on equity of 14.37% and a negative net margin of 0.85%. The company earned $2.66 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the company earned $1.36 EPS. L-3 Communications Holdings’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, equities analysts forecast that L-3 Communications Holdings Inc. will post $7.88 EPS for the current fiscal year.
LLL has been the topic of a number of analyst reports. Zacks Investment Research raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $162.00 price objective on the stock in a report on Tuesday, June 14th. Deutsche Bank AG reissued a “buy” rating and issued a $160.00 price target (up from $150.00) on shares of L-3 Communications Holdings in a report on Monday, June 13th. Credit Suisse Group AG started coverage on shares of L-3 Communications Holdings in a report on Tuesday, June 7th. They issued a “buy” rating and a $169.00 price target on the stock. Citigroup Inc. started coverage on shares of L-3 Communications Holdings in a report on Tuesday, September 6th. They issued a “buy” rating and a $174.00 price target on the stock. Finally, Jefferies Group boosted their price target on shares of L-3 Communications Holdings from $135.00 to $150.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $154.75.
In other L-3 Communications Holdings news, Director Arthur L. Simon sold 3,600 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $149.00, for a total value of $536,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael T. Strianese sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $149.64, for a total value of $14,964,000.00. The disclosure for this sale can be found here. 3.30% of the stock is owned by corporate insiders.
L-3 Communications Holdings Company Profile
L-3 Communications Holdings, Inc (L-3 Holdings) operates through its operating subsidiary L-3 Communications (L-3). The Company operates through three segments: Electronic Systems, which provides a range of products and services, including components, products, subsystems, systems and related services to military and commercial customers; Aerospace Systems, which provides products and services for the Intelligence, Surveillance and Reconnaissance (ISR) market, specializing in signals intelligence (SIGINT) and multi-intelligence platforms, and Communication Systems, which provides network and communication systems, secure communications products, radio frequency components, satellite communication terminals, and space, microwave and telemetry products.
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