16,439 Shares in L-3 Communications Holdings, Inc. (LLL) Acquired by Paloma Partners Management Co

Paloma Partners Management Co acquired a new position in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) during the first quarter, Holdings Channel reports. The fund acquired 16,439 shares of the aerospace company’s stock, valued at approximately $2,717,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Philadelphia Trust Co. boosted its position in shares of L-3 Communications Holdings by 5.1% in the fourth quarter. Philadelphia Trust Co. now owns 174,088 shares of the aerospace company’s stock worth $26,480,000 after buying an additional 8,477 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of L-3 Communications Holdings by 1.5% in the first quarter. Wells Fargo & Company MN now owns 859,635 shares of the aerospace company’s stock worth $142,091,000 after buying an additional 12,728 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of L-3 Communications Holdings by 2.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,420 shares of the aerospace company’s stock worth $2,053,000 after buying an additional 249 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of L-3 Communications Holdings by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,062 shares of the aerospace company’s stock worth $319,000 after buying an additional 71 shares in the last quarter. Finally, Oxford Asset Management purchased a new position in shares of L-3 Communications Holdings during the first quarter worth about $2,492,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.

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

L-3 Communications Holdings, Inc. (LLL) traded up 0.09% during mid-day trading on Friday, reaching $169.00. 155,639 shares of the company’s stock traded hands. L-3 Communications Holdings, Inc. has a 12 month low of $132.38 and a 12 month high of $179.95. The stock has a market cap of $13.16 billion, a P/E ratio of 20.61 and a beta of 1.16. The company has a 50 day moving average price of $166.43 and a 200-day moving average price of $163.05.

L-3 Communications Holdings (NYSE:LLL) last posted its quarterly earnings data on Thursday, April 27th. The aerospace company reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.26. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.45 billion. L-3 Communications Holdings had a net margin of 5.98% and a return on equity of 13.90%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.08 EPS. On average, analysts anticipate that L-3 Communications Holdings, Inc. will post $8.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 19th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, May 17th. L-3 Communications Holdings’s payout ratio is 36.54%.

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LLL has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a report on Wednesday, March 29th. Royal Bank Of Canada reiterated a “hold” rating and issued a $159.00 price target on shares of L-3 Communications Holdings in a report on Friday, March 24th. Jefferies Group LLC set a $160.00 price target on shares of L-3 Communications Holdings and gave the company a “hold” rating in a report on Tuesday, March 14th. Deutsche Bank AG upped their price target on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, Barclays PLC cut shares of L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $165.00 to $175.00 in a report on Monday, May 1st. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $179.18.

In other news, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $168.04, for a total transaction of $3,788,797.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 67,641 shares of company stock worth $11,339,112 over the last quarter. Company insiders own 2.90% of the company’s stock.

About L-3 Communications Holdings

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.

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).

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