L-3 Communications Holdings, Inc. (NYSE:LLL)‘s stock had its “buy” rating reissued by equities research analysts at Cowen and Company in a research report issued on Thursday. They presently have a $185.00 target price on the aerospace company’s stock. Cowen and Company’s price target suggests a potential upside of 7.58% from the stock’s previous close.

The analysts wrote, “We expect investors will react positively to L-3’s succession announcement, which.””

A number of other research analysts also recently issued reports on LLL. BidaskClub upgraded L-3 Communications Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Jefferies Group LLC restated a “hold” rating and set a $170.00 price target (up previously from $160.00) on shares of L-3 Communications Holdings in a report on Saturday, April 29th. Deutsche Bank AG boosted their price target on L-3 Communications Holdings from $175.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 28th. Zacks Investment Research upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating and set a $187.00 price target on the stock in a report on Wednesday, March 29th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $178.00 price target on shares of L-3 Communications Holdings in a report on Friday, June 2nd. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $179.18.

Shares of L-3 Communications Holdings (NYSE:LLL) traded up 3.91% during trading on Thursday, reaching $178.68. The company’s stock had a trading volume of 447,453 shares. The stock has a market cap of $13.92 billion, a P/E ratio of 21.79 and a beta of 1.14. L-3 Communications Holdings has a 12-month low of $132.38 and a 12-month high of $180.73. The stock’s 50-day moving average is $168.34 and its 200-day moving average is $164.92.

L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings data on Thursday, April 27th. The aerospace company reported $2.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.26. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 5.98%. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts anticipate that L-3 Communications Holdings will post $8.76 earnings per share for the current fiscal year.

L-3 Communications Holdings announced that its Board of Directors has approved a share repurchase program on Tuesday, May 9th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase up to 11.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

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In other news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $168.04, for a total value of $3,788,797.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 67,641 shares of company stock worth $11,432,231. Insiders own 2.90% of the company’s stock.

Several hedge funds have recently modified their holdings of LLL. Philadelphia Trust Co. boosted its stake in shares of L-3 Communications Holdings by 5.1% in the fourth quarter. Philadelphia Trust Co. now owns 174,088 shares of the aerospace company’s stock worth $26,480,000 after buying an additional 8,477 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of L-3 Communications Holdings by 1.5% in the first quarter. Wells Fargo & Company MN now owns 859,635 shares of the aerospace company’s stock worth $142,091,000 after buying an additional 12,728 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of L-3 Communications Holdings by 2.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,420 shares of the aerospace company’s stock worth $2,053,000 after buying an additional 249 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of L-3 Communications Holdings by 12.3% in the first quarter. Bank of America Corp DE now owns 817,309 shares of the aerospace company’s stock worth $135,093,000 after buying an additional 89,320 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of L-3 Communications Holdings by 3.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,062 shares of the aerospace company’s stock worth $319,000 after buying an additional 71 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

About L-3 Communications Holdings

L3 Technologies, Inc, formerly L-3 Communications Holdings, Inc, is a prime contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment, simulation and training, night vision and image intensification equipment and security and detection systems. The Company provides a broad range of communication and electronic systems and products used on military and commercial platforms.

Analyst Recommendations for L-3 Communications Holdings (NYSE:LLL)

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