L-3 Communications Holdings, Inc. (LLL) Shares Sold by American International Group Inc.

American International Group Inc. lessened its holdings in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,321 shares of the aerospace company’s stock after selling 3,638 shares during the period. American International Group Inc.’s holdings in L-3 Communications were worth $4,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Wedbush Securities Inc. raised its position in shares of L-3 Communications by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 1,322 shares of the aerospace company’s stock worth $221,000 after acquiring an additional 6 shares in the last quarter. First Allied Advisory Services Inc. raised its position in shares of L-3 Communications 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 acquiring an additional 9 shares in the last quarter. MAI Capital Management raised its position in shares of L-3 Communications by 0.8% during the 2nd quarter. MAI Capital Management now owns 2,015 shares of the aerospace company’s stock worth $337,000 after acquiring an additional 15 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of L-3 Communications by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,786 shares of the aerospace company’s stock worth $967,000 after acquiring an additional 15 shares in the last quarter. Finally, Keel Point LLC raised its position in shares of L-3 Communications by 0.5% during the 2nd quarter. Keel Point LLC now owns 3,451 shares of the aerospace company’s stock worth $577,000 after acquiring an additional 16 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada raised L-3 Communications from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. Cowen reissued a “buy” rating and set a $200.00 target price (up previously from $190.00) on shares of L-3 Communications in a research report on Tuesday, October 3rd. ValuEngine lowered L-3 Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Deutsche Bank reaffirmed a “buy” rating and set a $205.00 price target (up previously from $190.00) on shares of L-3 Communications in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised L-3 Communications from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $197.50.

L-3 Communications Holdings, Inc. (LLL) traded up $2.11 on Wednesday, reaching $195.05. The company’s stock had a trading volume of 820,900 shares, compared to its average volume of 552,173. The firm has a market capitalization of $15,076.75, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 3.84 and a beta of 1.19. L-3 Communications Holdings, Inc. has a 52 week low of $143.54 and a 52 week high of $199.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.80.

L-3 Communications (NYSE:LLL) last released its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.93 by $0.03. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.68 billion. L-3 Communications had a return on equity of 14.00% and a net margin of 5.22%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 earnings per share. sell-side analysts predict that L-3 Communications Holdings, Inc. will post 8.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 16th. L-3 Communications’s payout ratio is currently 41.27%.

In other news, insider Michael T. Strianese sold 22,545 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $196.26, for a total value of $4,424,681.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 67,639 shares of company stock worth $12,818,253. Corporate insiders own 2.90% of the company’s stock.

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About L-3 Communications

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 (NYSE:LLL)

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