Putnam Investments Lowers stake in L-3 Communications Holdings (LLL)

L-3 Communications Holdings (LLL) : Putnam Investments reduced its stake in L-3 Communications Holdings by 63.06% during the most recent quarter end. The investment management company now holds a total of 1,507,620 shares of L-3 Communications Holdings which is valued at $223,444,360 after selling 2,573,212 shares in L-3 Communications Holdings , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.L-3 Communications Holdings makes up approximately 0.53% of Putnam Investments’s portfolio.

Other Hedge Funds, Including , New York Life Trust Co reduced its stake in LLL by selling 207 shares or 22.21% in the most recent quarter. The Hedge Fund company now holds 725 shares of LLL which is valued at $107,452. L-3 Communications Holdings makes up approx 0.50% of New York Life Trust Co’s portfolio.Seven Eight Capital boosted its stake in LLL in the latest quarter, The investment management firm added 4,400 additional shares and now holds a total of 7,400 shares of L-3 Communications Holdings which is valued at $1,096,754. L-3 Communications Holdings makes up approx 0.36% of Seven Eight Capital’s portfolio.State Of Tennessee Treasury Department reduced its stake in LLL by selling 32,503 shares or 65.3% in the most recent quarter. The Hedge Fund company now holds 17,274 shares of LLL which is valued at $2,560,180. L-3 Communications Holdings makes up approx 0.01% of State Of Tennessee Treasury Department’s portfolio.Reliance Trust Co Of Delaware reduced its stake in LLL by selling 247 shares or 1.85% in the most recent quarter. The Hedge Fund company now holds 13,132 shares of LLL which is valued at $1,946,294. L-3 Communications Holdings makes up approx 0.17% of Reliance Trust Co Of Delaware’s portfolio.

L-3 Communications Holdings opened for trading at $148.73 and hit $149.5 on the upside on Thursday, eventually ending the session at $149.34, with a gain of 0.35% or 0.52 points. The heightened volatility saw the trading volume jump to 3,36,215 shares. Company has a market cap of $11,535 M.

On the company’s financial health, L-3 Communications Holdings reported $1.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.69. The company had revenue of $2664.00 million for the quarter, compared to analysts expectations of $2492.63 million. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS.

Many Wall Street Analysts have commented on L-3 Communications Holdings. L-3 Communications Holdings was Initiated by Citigroup to “Buy” on Sep 6, 2016. L-3 Communications Holdings was Upgraded by JP Morgan to ” Overweight” on Aug 25, 2016. L-3 Communications Holdings was Upgraded by Drexel Hamilton to ” Buy” on May 20, 2016.

L-3 Communications Holdings Inc. (L-3 Holdings) 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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