Acadian Asset Management LLC cut its position in L-3 Communications Holdings, Inc. (NYSE:LLL) by 52.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,910 shares of the aerospace company’s stock after selling 14,120 shares during the period. Acadian Asset Management LLC’s holdings in L-3 Communications Holdings were worth $2,156,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in L-3 Communications Holdings by 4.6% in the first quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock worth $103,000 after buying an additional 27 shares during the period. FNY Partners Fund LP acquired a new stake in L-3 Communications Holdings during the first quarter worth $115,000. FNY Managed Accounts LLC acquired a new stake in L-3 Communications Holdings during the first quarter worth $141,000. Heritage Trust Co acquired a new stake in L-3 Communications Holdings during the first quarter worth $165,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in L-3 Communications Holdings during the first quarter worth $174,000. 81.21% of the stock is owned by institutional investors.

Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) traded up 0.16% during trading on Monday, reaching $176.29. 172,002 shares of the company’s stock were exchanged. L-3 Communications Holdings, Inc. has a 12-month low of $132.38 and a 12-month high of $180.73. The company has a market capitalization of $13.79 billion, a P/E ratio of 19.87 and a beta of 1.15. The stock has a 50-day moving average price of $170.97 and a 200 day moving average price of $166.60.

L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.18. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. Equities analysts expect that L-3 Communications Holdings, Inc. will post $8.88 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 17th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, August 15th. L-3 Communications Holdings’s payout ratio is 33.82%.

L-3 Communications Holdings announced that its board has authorized a stock repurchase program on Tuesday, May 9th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 11.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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A number of research firms recently weighed in on LLL. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 price objective on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating in a research note on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $178.00 price objective on shares of L-3 Communications Holdings in a research note on Friday, June 2nd. Deutsche Bank AG upped their price objective on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Finally, BidaskClub raised shares of L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Ten equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. L-3 Communications Holdings currently has an average rating of “Hold” and an average price target of $180.09.

In related news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $173.49, for a total transaction of $3,911,679.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have sold 67,641 shares of company stock valued at $11,511,371. 2.90% of the stock is owned by company 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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