State of Tennessee Treasury Department Has $5.58 Million Stake in L-3 Communications Holdings, Inc. (LLL)

State of Tennessee Treasury Department trimmed its position in L-3 Communications Holdings, Inc. (NYSE:LLL) by 73.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,392 shares of the aerospace company’s stock after selling 92,187 shares during the quarter. State of Tennessee Treasury Department’s holdings in L-3 Communications Holdings were worth $5,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of LLL. Strs Ohio acquired a new stake in shares of L-3 Communications Holdings in the first quarter worth $1,542,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of L-3 Communications Holdings in the first quarter worth $478,000. Daiwa Securities Group Inc. acquired a new stake in shares of L-3 Communications Holdings in the first quarter worth $364,000. Henderson Group PLC lifted its stake in shares of L-3 Communications Holdings by 2.1% in the first quarter. Henderson Group PLC now owns 9,704 shares of the aerospace company’s stock worth $1,604,000 after buying an additional 200 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of L-3 Communications Holdings by 27.4% in the first quarter. US Bancorp DE now owns 13,253 shares of the aerospace company’s stock worth $2,191,000 after buying an additional 2,851 shares during the last quarter. Institutional investors and hedge funds own 79.14% of the company’s stock.

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Shares of L-3 Communications Holdings, Inc. (NYSE LLL) opened at 182.20 on Monday. The company has a market cap of $14.25 billion, a price-to-earnings ratio of 20.54 and a beta of 1.15. The firm has a 50-day moving average of $179.26 and a 200 day moving average of $170.65. L-3 Communications Holdings, Inc. has a one year low of $132.38 and a one year high of $185.12.

L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share 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 during the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that L-3 Communications Holdings, Inc. will post $8.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio is currently 33.82%.

A number of analysts have recently weighed in on the stock. Cowen and Company restated a “buy” rating and issued a $190.00 price objective on shares of L-3 Communications Holdings in a research note on Monday, August 14th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price objective on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) upgraded shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and boosted their price objective for the stock from $195.00 to $204.00 in a research note on Monday, August 7th. Royal Bank Of Canada restated a “hold” rating and issued a $178.00 price objective on shares of L-3 Communications Holdings in a research note on Friday, June 2nd. Finally, ValuEngine upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. 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 stock has a consensus rating of “Buy” and an average price target of $182.91.

In related news, insider Ralph Dambrosio sold 5,000 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael T. Strianese sold 22,547 shares of the business’s 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. Insiders have sold 75,622 shares of company stock valued at $13,269,992 in the last three months. Insiders own 2.90% of the company’s stock.

L-3 Communications Holdings 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.

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

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