Berkshire Asset Management Holds Position in L-3 Communications …
Berkshire Asset Management continued to hold its stake in shares of L-3 Communications Holdings, Inc. (NYSE:LLL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,605 shares of the company s stock at the end of the fourth quarter. Berkshire Asset Management s holdings in L-3 Communications Holdings were worth $311,000 at the end of the most recent reporting period.
Separately, Quantitative Systematic Strategies bought a new stake in shares of L-3 Communications Holdings during the fourth quarter valued at about $314,000. Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) traded up 1.54% during trading on Tuesday, hitting $111.97. The stock had a trading volume of 74,632 shares. The stock s 50 day moving average is $117.15 and its 200 day moving average is $115.40. L-3 Communications Holdings, Inc. has a 52 week low of $101.11 and a 52 week high of $132.92. The stock has a market capitalization of $8.78 billion and a price-to-earnings ratio of 71.68. L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.28. The company earned $2.80 billion during the quarter, compared to the consensus estimate of $2.91 billion. The company s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.85 earnings per share. On average, equities research analysts expect that L-3 Communications Holdings, Inc. will post $6.94 earnings per share for the current fiscal year.
Several analysts recently issued reports on LLL shares. Zacks Investment Research raised L-3 Communications Holdings from a sell rating to a hold rating in a report on Thursday, January 14th. Jefferies Group reaffirmed a hold rating and set a $125.00 target price on shares of L-3 Communications Holdings in a research note on Wednesday, December 30th. RBC Capital reaffirmed a hold rating on shares of L-3 Communications Holdings in a research note on Thursday, December 10th. Barclays reaffirmed a hold rating on shares of L-3 Communications Holdings in a research note on Monday, October 12th. Finally, Cowen and Company downgraded L-3 Communications Holdings from an outperform rating to a market perform rating and cut their target price for the company from $146.00 to $125.00 in a research note on Friday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company s stock. L-3 Communications Holdings currently has an average rating of Hold and an average price target of $128.67. In other news, insider Curtis Brunson sold 55,465 shares of the company s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $123.70, for a total value of $6,861,020.50. Following the sale, the insider now directly owns 75,201 shares in the company, valued at approximately $9,302,363.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. L-3 Communications Holdings, Inc. (NYSE:LLL) operates through its wholly owned operating subsidiary L-3 Communications Corporation (L-3 Communications). L-3 is a prime contractor in intelligence, surveillance and reconnaissance (ISR) systems, aircraft sustainment (including modifications, logistics and maintenance), simulation and training, night vision and image intensification equipment, enterprise and mission information technology (IT) solutions, and cyber operations. L-3 also provides a range of communication and electronic systems and products used on military and commercial platforms. It operates in four segments: Electronic Systems, Aerospace Systems, Communication Systems and National Security Solutions (NSS). Its customers include the United States Department of Defense and its prime contractors, the United States Government intelligence agencies, the United States Department of Homeland Security, foreign Governments, and domestic and international commercial customers.
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