Lord Abbett & CO. LLC Has $6.98 Million Stake in L-3 Communications Holdings, Inc. (LLL)

Lord Abbett & CO. LLC trimmed its holdings in L-3 Communications Holdings, Inc. (NYSE:LLL) by 60.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,800 shares of the aerospace company’s stock after selling 64,900 shares during the period. Lord Abbett & CO. LLC owned 0.05% of L-3 Communications Holdings worth $6,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LLL. United Capital Financial Advisers LLC acquired a new stake in shares of L-3 Communications Holdings in the first quarter valued at approximately $324,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of L-3 Communications Holdings in the first quarter valued at approximately $737,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of L-3 Communications Holdings in the first quarter valued at approximately $174,000. FNY Partners Fund LP acquired a new stake in shares of L-3 Communications Holdings in the first quarter valued at approximately $115,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of L-3 Communications Holdings in the second quarter valued at approximately $1,022,000. Institutional investors own 79.05% of the company’s stock.

A number of research firms have recently weighed in on LLL. ValuEngine downgraded shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Cowen and Company reiterated a “buy” rating and issued a $200.00 price target (up from $190.00) on shares of L-3 Communications Holdings in a research report on Tuesday, October 3rd. Royal Bank Of Canada reiterated a “hold” rating on shares of L-3 Communications Holdings in a research report on Sunday, October 8th. Deutsche Bank AG reiterated a “buy” rating and issued a $205.00 price target (up from $190.00) on shares of L-3 Communications Holdings in a research report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. L-3 Communications Holdings currently has a consensus rating of “Hold” and an average price target of $195.50.

In other L-3 Communications Holdings news, Director Claude R. Canizares sold 2,981 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total value of $541,588.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $185.87, for a total transaction 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 worth $13,649,909 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

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L-3 Communications Holdings, Inc. (NYSE:LLL) opened at 189.10 on Friday. The company has a 50-day moving average of $187.67 and a 200-day moving average of $175.72. The company has a market capitalization of $14.79 billion, a PE ratio of 21.32 and a beta of 1.15. L-3 Communications Holdings, Inc. has a 52 week low of $132.38 and a 52 week high of $192.00.

L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.03. L-3 Communications Holdings had a net margin of 5.22% and a return on equity of 14.00%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the company posted $1.88 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that L-3 Communications Holdings, Inc. will post $8.73 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, November 16th. L-3 Communications Holdings’s dividend payout ratio is presently 41.27%.

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.

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

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