Cambria Investment Management Lowers stake in L-3 Communications Holdings (LLL)

L-3 Communications Holdings (LLL) : Cambria Investment Management reduced its stake in L-3 Communications Holdings by 7.87% during the most recent quarter end. The investment management company now holds a total of 12,218 shares of L-3 Communications Holdings which is valued at $1,880,717 after selling 1,043 shares in L-3 Communications Holdings , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.L-3 Communications Holdings makes up approximately 0.87% of Cambria Investment Management’s portfolio.

Other Hedge Funds, Including , Bluemountain Capital Management boosted its stake in LLL in the latest quarter, The investment management firm added 3,533 additional shares and now holds a total of 20,762 shares of L-3 Communications Holdings which is valued at $3,195,895. L-3 Communications Holdings makes up approx 0.10% of Bluemountain Capital Management’s portfolio.Thompson Davis reduced its stake in LLL by selling 36 shares or 12.46% in the most recent quarter. The Hedge Fund company now holds 253 shares of LLL which is valued at $34,810. L-3 Communications Holdings makes up approx 0.06% of Thompson Davis’s portfolio. Tradelink Capital sold out all of its stake in LLL during the most recent quarter. The investment firm sold 1,510 shares of LLL which is valued $203,639.Strs Ohio reduced its stake in LLL by selling 1,658 shares or 12.81% in the most recent quarter. The Hedge Fund company now holds 11,287 shares of LLL which is valued at $1,581,309. L-3 Communications Holdings makes up approx 0.01% of Strs Ohio’s portfolio.Concert Wealth Management reduced its stake in LLL by selling 182 shares or 4.08% in the most recent quarter. The Hedge Fund company now holds 4,282 shares of LLL which is valued at $599,908. L-3 Communications Holdings makes up approx 0.07% of Concert Wealth Management’s portfolio.

L-3 Communications Holdings opened for trading at $149.44 and hit $152.28 on the upside on Monday, eventually ending the session at $152.2, with a gain of 1.49% or 2.23 points. The heightened volatility saw the trading volume jump to 5,30,995 shares. Company has a market cap of $11,766 M.

On the company’s financial health, L-3 Communications Holdings reported $1.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.82. The company had revenue of $2505.00 million for the quarter, compared to analysts expectations of $2544.94 million. The company’s revenue was down -2.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.09 EPS.

Many Wall Street Analysts have commented on L-3 Communications Holdings. Company shares were Upgraded by Barclays on Nov 10, 2016 to ” Overweight”, Firm has raised the Price Target to $ 165 from a previous price target of $155 .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 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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