L-3 Communications Holdings, Inc. (NYSE:LLL) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 704,740 shares, a drop of 33.4% from the August 15th total of 1,058,265 shares. Based on an average daily trading volume, of 417,124 shares, the short-interest ratio is presently 1.7 days. Approximately 0.9% of the shares of the stock are sold short.

Several research firms have weighed in on LLL. Goldman Sachs Group, Inc. (The) raised L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and raised their price target for the stock from $195.00 to $204.00 in a research report on Monday, August 7th. Cowen and Company reissued a “buy” rating and set a $190.00 price target on shares of L-3 Communications Holdings in a research report on Monday, August 14th. Drexel Hamilton raised L-3 Communications Holdings from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded L-3 Communications Holdings from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $175.00 price target (up previously from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $182.91.

Shares of L-3 Communications Holdings (NYSE:LLL) opened at 189.42 on Wednesday. The firm’s 50-day moving average price is $181.04 and its 200-day moving average price is $171.55. The stock has a market cap of $14.82 billion, a P/E ratio of 21.35 and a beta of 1.15. L-3 Communications Holdings has a 52-week low of $132.38 and a 52-week high of $189.86.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio (DPR) is presently 33.82%.

In other L-3 Communications Holdings news, Director Claude R. Canizares sold 2,981 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $181.68, for a total transaction of $541,588.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $182.05, for a total value of $4,104,681.35. The disclosure for this sale can be found here. Insiders have sold 75,622 shares of company stock valued at $13,269,992 in the last three months. 2.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of L-3 Communications Holdings by 5.3% in the second quarter. Vanguard Group Inc. now owns 8,556,292 shares of the aerospace company’s stock worth $1,429,586,000 after acquiring an additional 431,776 shares during the last quarter. BlackRock Inc. increased its stake in shares of L-3 Communications Holdings by 5.8% in the second quarter. BlackRock Inc. now owns 5,734,197 shares of the aerospace company’s stock worth $958,069,000 after acquiring an additional 313,761 shares during the last quarter. State Street Corp increased its stake in shares of L-3 Communications Holdings by 3.7% in the first quarter. State Street Corp now owns 3,677,881 shares of the aerospace company’s stock worth $607,919,000 after acquiring an additional 132,410 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of 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 acquiring an additional 2,318,040 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of 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 acquiring an additional 655,592 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

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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.

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