Concert Wealth Management Inc. decreased its position in L-3 Communications Holdings Inc. (NYSE:LLL) by 0.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,464 shares of the company’s stock after selling 1 shares during the period. Concert Wealth Management Inc.’s holdings in L-3 Communications Holdings were worth $654,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. First Citizens Bank & Trust Co. acquired a new stake in L-3 Communications Holdings during the second quarter worth about $3,258,000. CG Asset Management LLC boosted its stake in L-3 Communications Holdings by 17.2% in the second quarter. CG Asset Management LLC now owns 21,145 shares of the company’s stock worth $3,102,000 after buying an additional 3,100 shares during the last quarter. ING Groep NV boosted its stake in L-3 Communications Holdings by 57.6% in the second quarter. ING Groep NV now owns 2,744 shares of the company’s stock worth $402,000 after buying an additional 1,003 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in L-3 Communications Holdings by 22.0% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,688 shares of the company’s stock worth $394,000 after buying an additional 485 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in L-3 Communications Holdings during the second quarter worth about $4,557,000. 80.41% of the stock is owned by institutional investors and hedge funds.
Shares of L-3 Communications Holdings Inc. (NYSE:LLL) traded down 0.73% during midday trading on Tuesday, reaching $149.95. The company’s stock had a trading volume of 124,229 shares. The firm has a 50-day moving average of $149.41 and a 200-day moving average of $141.50. The stock’s market cap is $11.58 billion. L-3 Communications Holdings Inc. has a one year low of $105.88 and a one year high of $154.50.
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, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.19. The firm earned $2.66 billion during the quarter, compared to the consensus estimate of $2.49 billion. L-3 Communications Holdings had a positive return on equity of 14.37% and a negative net margin of 0.85%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 earnings per share. On average, analysts forecast that L-3 Communications Holdings Inc. will post $7.88 EPS for the current year.
A number of research firms recently issued reports on LLL. Citigroup Inc. increased their target price on L-3 Communications Holdings from $174.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird initiated coverage on shares of L-3 Communications Holdings in a research note on Wednesday, October 5th. They set an “outperform” rating and a $184.00 price target for the company. Zacks Investment Research raised shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $171.00 price target for the company in a research note on Wednesday, September 28th. JPMorgan Chase & Co. raised shares of L-3 Communications Holdings from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $158.00 to $182.00 in a research note on Thursday, August 25th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $160.00 price target on shares of L-3 Communications Holdings in a research note on Monday, August 15th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $157.46.
In other news, insider Ralph Dambrosio sold 12,760 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,914,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael T. Strianese sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were 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. Insiders own 3.30% of the company’s stock.
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.
Want to see what other hedge funds are holding LLL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for L-3 Communications Holdings Inc. (NYSE:LLL).
Receive News & Ratings for L-3 Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L-3 Communications Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.