Discovery Capital Management Ct Lowers stake in L-3 Communications Holdings (LLL)

L-3 Communications Holdings (LLL) : Discovery Capital Management Ct reduced its stake in L-3 Communications Holdings by 10.63% during the most recent quarter end. The investment management company now holds a total of 782,216 shares of L-3 Communications Holdings which is valued at $115,932,233 after selling 93,000 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 1.32% of Discovery Capital Management Ct’s portfolio.

Other Hedge Funds, Including , Voloridge Investment Management boosted its stake in LLL in the latest quarter, The investment management firm added 61,769 additional shares and now holds a total of 73,936 shares of L-3 Communications Holdings which is valued at $10,958,055. L-3 Communications Holdings makes up approx 0.30% of Voloridge Investment Management’s portfolio.Mitsubishi Ufj Trust Banking Corp reduced its stake in LLL by selling 567 shares or 0.35% in the most recent quarter. The Hedge Fund company now holds 160,719 shares of LLL which is valued at $23,820,163. L-3 Communications Holdings makes up approx 0.05% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Commonwealth Equity Services Inc boosted its stake in LLL in the latest quarter, The investment management firm added 352 additional shares and now holds a total of 2,216 shares of L-3 Communications Holdings which is valued at $334,616.

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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