Chicago Equity Partners LLC reduced its position in L-3 Communications Holdings, Inc. (NYSE:LLL) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,325 shares of the aerospace company’s stock after selling 3,890 shares during the period. Chicago Equity Partners LLC owned approximately 0.07% of L-3 Communications Holdings worth $8,742,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. BlackRock Inc. raised its stake in L-3 Communications Holdings by 3,351.1% in the first quarter. BlackRock Inc. now owns 5,420,436 shares of the aerospace company’s stock worth $895,943,000 after buying an additional 5,263,373 shares in the last quarter. Alliancebernstein L.P. raised its stake in L-3 Communications Holdings by 171,452.7% in the first quarter. Alliancebernstein L.P. now owns 2,319,392 shares of the aerospace company’s stock worth $383,372,000 after buying an additional 2,318,040 shares in the last quarter. Boston Partners raised its stake in L-3 Communications Holdings by 1,210.5% in the first quarter. Boston Partners now owns 1,170,837 shares of the aerospace company’s stock worth $193,527,000 after buying an additional 1,081,494 shares in the last quarter. Teachers Advisors LLC raised its stake in L-3 Communications Holdings by 23,683.0% in the first quarter. Teachers Advisors LLC now owns 717,057 shares of the aerospace company’s stock worth $118,522,000 after buying an additional 714,042 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in L-3 Communications Holdings by 44.6% in the first quarter. JPMorgan Chase & Co. now owns 2,125,903 shares of the aerospace company’s stock worth $351,390,000 after buying an additional 655,592 shares in the last quarter. Institutional investors own 79.13% of the company’s stock.

L-3 Communications Holdings, Inc. (NYSE:LLL) opened at 181.48 on Friday. The company has a market capitalization of $14.20 billion, a P/E ratio of 20.46 and a beta of 1.15. L-3 Communications Holdings, Inc. has a 52-week low of $132.38 and a 52-week high of $185.12. The stock’s 50 day moving average is $177.69 and its 200-day moving average is $170.13.

L-3 Communications Holdings (NYSE:LLL) last announced its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.70 billion. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.88 earnings per share. Analysts predict 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 given a dividend of $0.75 per share. The ex-dividend date is Tuesday, August 15th. This represents a $3.00 annualized dividend and a yield of 1.65%. L-3 Communications Holdings’s dividend payout ratio (DPR) is 33.82%.

L-3 Communications Holdings announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 9th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the aerospace company to purchase up to 11.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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LLL has been the topic of a number of analyst reports. Cowen and Company restated a “buy” rating and issued a $185.00 target price on shares of L-3 Communications Holdings in a report on Thursday, July 20th. Royal Bank Of Canada restated a “hold” rating and issued a $178.00 target price on shares of L-3 Communications Holdings in a report on Friday, June 2nd. BidaskClub raised shares of L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $175.00 price objective (up from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Finally, Zacks Investment Research downgraded shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $182.55.

In related news, Chairman Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $169.02, for a total transaction of $3,810,893.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Claude R. Canizares sold 2,981 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total transaction of $541,588.08. The disclosure for this sale can be found here. Insiders have sold 53,075 shares of company stock valued at $9,165,311 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

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.

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

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