L-3 Communications Holdings Inc. (LLL) Stock Rating Lowered by Zacks Investment Research
L-3 Communications Holdings Inc. (NYSE:LLL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “L-3 Communications is a pure-play provider of defense electronics and highly engineered products and services. Its strategy of gradually transforming its business portfolio to focus on defense electronics, communications and ISR markets will likely boost sales and margins going forward. On a global scale, instead of guns and ammunition, there is a growing demand for sensors, missiles and next-generation ISR technologies. This should definitely help defense players like L-3 Communications, agile enough to cater to changing demand, to witness huge gains ahead. Again, shareholder friendly moves will serve L-3 Communications well over the long haul. However, these positives are partly offset by its over dependence on government orders and budget volatility in the U.S.”
LLL has been the subject of a number of other reports. Citigroup Inc. upped their price objective on L-3 Communications Holdings from $174.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, October 10th. Robert W. Baird initiated coverage on L-3 Communications Holdings in a research note on Wednesday, October 5th. They set an “outperform” rating and a $184.00 price objective for the company. JPMorgan Chase & Co. upgraded L-3 Communications Holdings from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $158.00 to $182.00 in a research note on Thursday, August 25th. Jefferies Group restated a “hold” rating on shares of L-3 Communications Holdings in a research note on Monday, July 11th. Finally, Deutsche Bank AG restated a “buy” rating and set a $160.00 price objective on shares of L-3 Communications Holdings in a research note on Monday, August 15th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. L-3 Communications Holdings has a consensus rating of “Buy” and a consensus price target of $157.46.
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L-3 Communications Holdings (NYSE:LLL) traded down 0.17% during midday trading on Wednesday, hitting $148.97. The company’s stock had a trading volume of 152,433 shares. The company’s 50-day moving average is $149.55 and its 200 day moving average is $142.63. L-3 Communications Holdings has a one year low of $105.88 and a one year high of $154.50. The company’s market cap is $11.51 billion.
L-3 Communications Holdings (NYSE:LLL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.19. The firm earned $2.66 billion during the quarter, compared to analysts’ expectations of $2.49 billion. L-3 Communications Holdings had a positive return on equity of 14.37% and a negative net margin of 0.85%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 EPS. On average, analysts predict that L-3 Communications Holdings will post $7.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.88%. L-3 Communications Holdings’s dividend payout ratio (DPR) is -254.55%.
In related news, Chairman Michael T. Strianese sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $149.64, for a total transaction of $14,964,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arthur L. Simon sold 3,600 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $149.00, for a total value of $536,400.00. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Babson Capital Management LLC raised its stake in L-3 Communications Holdings by 19.9% in the first quarter. Babson Capital Management LLC now owns 16,884 shares of the company’s stock valued at $2,001,000 after buying an additional 2,800 shares during the period. Springbok Capital Management LLC increased its position in shares of L-3 Communications Holdings by 1.7% in the first quarter. Springbok Capital Management LLC now owns 10,292 shares of the company’s stock worth $1,220,000 after buying an additional 170 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of L-3 Communications Holdings during the first quarter worth about $2,016,000. Legal & General Group Plc increased its position in shares of L-3 Communications Holdings by 0.8% in the first quarter. Legal & General Group Plc now owns 381,561 shares of the company’s stock worth $45,219,000 after buying an additional 3,021 shares in the last quarter. Finally, AMP Capital Investors Ltd increased its position in shares of L-3 Communications Holdings by 22.6% in the first quarter. AMP Capital Investors Ltd now owns 72,778 shares of the company’s stock worth $8,733,000 after buying an additional 13,416 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
About L-3 Communications Holdings
L-3 Communications Holdings, Inc (L-3 Holdings) operates through its operating subsidiary L-3 Communications (L-3). The Company operates through three segments: Electronic Systems, which provides a range of products and services, including components, products, subsystems, systems and related services to military and commercial customers; Aerospace Systems, which provides products and services for the Intelligence, Surveillance and Reconnaissance (ISR) market, specializing in signals intelligence (SIGINT) and multi-intelligence platforms, and Communication Systems, which provides network and communication systems, secure communications products, radio frequency components, satellite communication terminals, and space, microwave and telemetry products.
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