L-3 Communications Holdings, Inc. (NYSE:LLL) Stock Rating Reaffirmed by Cowen and Company
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.
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.
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