Migdal Insurance & Financial Holdings Ltd. lifted its position in L-3 Communications Holdings, Inc. (NYSE:LLL) by 47.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,996 shares of the aerospace company’s stock after buying an additional 5,147 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in L-3 Communications Holdings were worth $2,656,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acrospire Investment Management LLC acquired a new stake in shares of L-3 Communications Holdings during the second quarter worth $100,000. 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 valued at $103,000 after purchasing an additional 27 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in L-3 Communications Holdings by 103.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 332 shares during the last quarter. FNY Partners Fund LP bought a new position in L-3 Communications Holdings in the first quarter valued at about $115,000. Finally, FNY Managed Accounts LLC bought a new position in L-3 Communications Holdings in the first quarter valued at about $141,000. 79.08% of the stock is owned by institutional investors.
In related news, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $173.49, for a total value of $3,911,679.03. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Claude R. Canizares sold 2,981 shares of L-3 Communications Holdings stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $181.68, for a total value of $541,588.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,622 shares of company stock worth $13,649,909. 2.90% of the stock is currently owned by insiders.
Shares of L-3 Communications Holdings, Inc. (LLL) traded down 0.09% on Tuesday, reaching $186.19. The company’s stock had a trading volume of 71,709 shares. L-3 Communications Holdings, Inc. has a 52-week low of $132.38 and a 52-week high of $192.00. The stock has a 50-day moving average of $186.23 and a 200 day moving average of $174.23. The company has a market cap of $14.56 billion, a price-to-earnings ratio of 20.99 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The firm had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm earned $1.88 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that L-3 Communications Holdings, Inc. will post $8.84 earnings per share for the current year.
Several analysts have recently weighed in on the company. Cowen and Company restated a “buy” rating and set a $190.00 price target on shares of L-3 Communications Holdings in a report on Monday, August 14th. 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 L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and lifted their price objective for the stock from $195.00 to $204.00 in a research note on Monday, August 7th. ValuEngine lowered L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of L-3 Communications Holdings in a research note on Sunday, October 8th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $192.50.
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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.
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