Today: Pzena Investment Management LLC Cuts Stake in L-3 Communications Holdings Inc. (LLL)

Today: Pzena Investment Management LLC Cuts Stake in L-3 Communications Holdings Inc. (LLL)

Pzena Investment Management LLC cut its position in L-3 Communications Holdings Inc. (NYSE:LLL) by 21.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,400 shares of the company’s stock after selling 45,775 shares during the period. Pzena Investment Management LLC owned 0.22% of L-3 Communications Holdings worth $25,383,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new position in L-3 Communications Holdings during the second quarter worth about $88,005,000. Ameriprise Financial Inc. boosted its position in shares of L-3 Communications Holdings by 811.1% in the second quarter. Ameriprise Financial Inc. now owns 518,890 shares of the company’s stock worth $76,113,000 after buying an additional 461,939 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of L-3 Communications Holdings by 6.1% in the second quarter. Vanguard Group Inc. now owns 7,167,942 shares of the company’s stock worth $1,051,465,000 after buying an additional 414,327 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of L-3 Communications Holdings by 47.1% in the second quarter. TIAA CREF Investment Management LLC now owns 760,376 shares of the company’s stock worth $111,540,000 after buying an additional 243,413 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its position in shares of L-3 Communications Holdings by 144.9% in the second quarter. BlackRock Advisors LLC now owns 384,266 shares of the company’s stock worth $56,368,000 after buying an additional 227,359 shares in the last quarter. Hedge funds and other institutional investors own 79.19% of the company’s stock.

L-3 Communications Holdings Inc. (NYSE:LLL) traded up 0.22% on Monday, reaching $156.71. The company had a trading volume of 187,310 shares. The company’s 50-day moving average price is $146.73 and its 200 day moving average price is $146.43. L-3 Communications Holdings Inc. has a 1-year low of $105.88 and a 1-year high of $156.78. The firm has a market capitalization of $12.11 billion, a P/E ratio of 34.81 and a beta of 1.05.

L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.06. L-3 Communications Holdings had a net margin of 3.43% and a return on equity of 13.90%. The firm earned $2.50 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities analysts forecast that L-3 Communications Holdings Inc. will post $7.95 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.79%. L-3 Communications Holdings’s dividend payout ratio (DPR) is presently 61.95%.

A number of equities analysts recently commented on LLL shares. Citigroup Inc. raised their target price on L-3 Communications Holdings from $174.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, October 10th. Drexel Hamilton cut L-3 Communications Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 28th. They noted that the move was a valuation call. Zacks Investment Research raised L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a report on Wednesday, September 28th. Robert W. Baird started coverage on L-3 Communications Holdings in a report on Wednesday, October 5th. They issued an “outperform” rating and a $184.00 target price on the stock. Finally, Cowen and Company raised L-3 Communications Holdings from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a report on Friday, October 28th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $161.54.

About L-3 Communications Holdings

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