Shares of L-3 Communications Holdings Inc. (NYSE:LLL) have earned an average rating of “Buy” from the sixteen research firms that are covering the company. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $168.27.
LLL has been the topic of several recent research reports. Citigroup Inc. increased their price target on L-3 Communications Holdings from $174.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, October 10th. Drexel Hamilton lowered L-3 Communications Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 28th. They noted that the move was a valuation call. Bank of America Corp. lowered L-3 Communications Holdings from a “buy” rating to a “neutral” rating and set a $170.00 price target on the stock. in a report on Thursday, December 8th. Zacks Investment Research upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a report on Wednesday, September 28th. Finally, Robert W. Baird initiated coverage on L-3 Communications Holdings in a report on Wednesday, October 5th. They issued an “outperform” rating and a $184.00 price target on the stock.
Hedge funds have recently added to or reduced their stakes in the company. Retirement Systems of Alabama increased its stake in L-3 Communications Holdings by 41.5% in the second quarter. Retirement Systems of Alabama now owns 101,695 shares of the company’s stock worth $14,918,000 after buying an additional 29,847 shares in the last quarter. Boston Advisors LLC increased its stake in L-3 Communications Holdings by 8.7% in the second quarter. Boston Advisors LLC now owns 245,139 shares of the company’s stock worth $35,959,000 after buying an additional 19,715 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in L-3 Communications Holdings by 10.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 248,660 shares of the company’s stock worth $36,476,000 after buying an additional 24,373 shares in the last quarter. State Treasurer State of Michigan increased its stake in L-3 Communications Holdings by 0.7% in the third quarter. State Treasurer State of Michigan now owns 26,976 shares of the company’s stock worth $4,066,000 after buying an additional 200 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in L-3 Communications Holdings during the second quarter worth about $88,005,000. 79.12% of the stock is owned by institutional investors and hedge funds.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.06. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.54 billion. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 3.43%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 earnings per share. On average, analysts expect that L-3 Communications Holdings will post $7.96 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Tuesday, November 15th. L-3 Communications Holdings’s dividend payout ratio is currently 61.95%.
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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.
