Independent Investors Inc. Has $1,322,000 Position in L-3 Communications Holdings, Inc. (NYSE:LLL)

Independent Investors Inc. maintained its position in L-3 Communications Holdings, Inc. (NYSE:LLL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,915 shares of the aerospace company’s stock at the end of the second quarter. Independent Investors Inc.’s holdings in L-3 Communications Holdings were worth $1,322,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in L-3 Communications Holdings by 6.6% in the first quarter. Vanguard Group Inc. now owns 8,124,516 shares of the aerospace company’s stock worth $1,342,901,000 after buying an additional 505,941 shares during the period. BlackRock Inc. raised its position in shares of L-3 Communications Holdings by 3,351.1% in the first quarter. BlackRock Inc. now owns 5,420,436 shares of the aerospace company’s stock worth $895,943,000 after buying an additional 5,263,373 shares during the period. State Street Corp raised its position in shares of L-3 Communications Holdings by 3.7% in the first quarter. State Street Corp now owns 3,677,881 shares of the aerospace company’s stock worth $607,919,000 after buying an additional 132,410 shares during the period. Alliancebernstein L.P. raised its position in shares of L-3 Communications Holdings by 171,452.7% in the first quarter. Alliancebernstein L.P. now owns 2,319,392 shares of the aerospace company’s stock worth $383,372,000 after buying an additional 2,318,040 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of L-3 Communications Holdings by 44.6% in the first quarter. JPMorgan Chase & Co. now owns 2,125,903 shares of the aerospace company’s stock worth $351,390,000 after buying an additional 655,592 shares during the period. Institutional investors and hedge funds own 81.21% of the company’s stock.

Shares of L-3 Communications Holdings, Inc. (LLL) traded up 0.19% during mid-day trading on Friday, reaching $183.63. The company’s stock had a trading volume of 657,404 shares. The stock has a market capitalization of $14.36 billion, a P/E ratio of 20.70 and a beta of 1.15. L-3 Communications Holdings, Inc. has a 12-month low of $132.38 and a 12-month high of $185.12. The company’s 50-day moving average price is $172.85 and its 200-day moving average price is $167.64.

L-3 Communications Holdings (NYSE:LLL) last issued its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the business earned $1.88 earnings per share. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that L-3 Communications Holdings, Inc. will post $8.88 earnings per share for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 1.63%. L-3 Communications Holdings’s payout ratio is 33.82%.

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Several research firms have issued reports on LLL. Deutsche Bank AG raised their price target on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Cowen and Company reaffirmed a “buy” rating and set a $185.00 price objective on shares of L-3 Communications Holdings in a research report on Thursday, July 20th. Drexel Hamilton raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday. Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and lifted their price target for the company from $195.00 to $204.00 in a research report on Monday. Finally, Barclays PLC downgraded shares of L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $165.00 to $175.00 in a research report on Monday, May 1st. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $182.08.

In related news, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $173.49, for a total value of $3,911,679.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 67,641 shares of company stock valued at $11,511,371 in the last ninety days. 2.90% of the stock is currently 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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