Narwhal Capital Management Has $1,621,000 Position in L-3 Communications Holdings Inc. (LLL)
Narwhal Capital Management continued to hold its position in shares of L-3 Communications Holdings Inc. (NYSE:LLL) during the second quarter, Holdings Channel reports. The institutional investor owned 11,050 shares of the company’s stock at the end of the second quarter. Narwhal Capital Management’s holdings in L-3 Communications Holdings were worth $1,621,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc raised its position in shares of L-3 Communications Holdings by 21.3% in the first quarter. IFP Advisors Inc now owns 1,515 shares of the company’s stock worth $180,000 after buying an additional 266 shares during the period. ING Groep NV purchased a new stake in L-3 Communications Holdings during the first quarter worth approximately $206,000. Wendell David Associates Inc. purchased a new stake in L-3 Communications Holdings during the second quarter worth approximately $224,000. Indiana Trust & Investment Management CO purchased a new stake in L-3 Communications Holdings during the second quarter worth approximately $226,000. Finally, Meeder Asset Management Inc. purchased a new stake in L-3 Communications Holdings during the first quarter worth approximately $259,000. Institutional investors own 80.40% of the company’s stock.
L-3 Communications Holdings Inc. (NYSE:LLL) traded up 1.78% on Wednesday, reaching $149.71. The company had a trading volume of 287,212 shares. L-3 Communications Holdings Inc. has a 12 month low of $101.13 and a 12 month high of $154.50. The stock’s market capitalization is $11.56 billion. The firm has a 50 day moving average price of $148.90 and a 200-day moving average price of $138.18.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.88 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.19. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates 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%. L-3 Communications Holdings’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 EPS. Analysts forecast that L-3 Communications Holdings Inc. will post $7.88 earnings per share for the current fiscal year.
A number of research firms have recently commented on LLL. Deutsche Bank AG reissued a “buy” rating and issued a $160.00 price objective (up previously from $150.00) on shares of L-3 Communications Holdings in a research note on Monday, June 13th. Zacks Investment Research downgraded L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Citigroup Inc. began coverage on L-3 Communications Holdings in a research note on Tuesday, September 6th. They issued a “buy” rating and a $174.00 price objective on the stock. Jefferies Group reissued a “hold” rating on shares of L-3 Communications Holdings in a research note on Monday, July 11th. Finally, Royal Bank Of Canada raised L-3 Communications Holdings from a “sector perform” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Thursday, May 26th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. L-3 Communications Holdings currently has an average rating of “Buy” and a consensus price target of $154.67.
In other L-3 Communications Holdings news, Director Claude R. Canizares sold 2,469 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $150.23, for a total value of $370,917.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven M. Post sold 33,375 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $151.29, for a total value of $5,049,303.75. The disclosure for this sale can be found here. Corporate 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.
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