L-3 Communications Holdings, Inc. (LLL) Given Consensus Rating of “Hold” by Brokerages
Shares of L-3 Communications Holdings, Inc. (NYSE:LLL) have been assigned an average recommendation of “Hold” from the fifteen analysts that are covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $179.18.
LLL has been the subject of several recent analyst reports. Deutsche Bank AG boosted their target price on L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Jefferies Group LLC restated a “hold” rating and set a $170.00 target price (up previously from $160.00) on shares of L-3 Communications Holdings in a research note on Saturday, April 29th. Barclays PLC cut L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $165.00 to $175.00 in a research note on Monday, May 1st. Royal Bank Of Canada restated a “hold” rating and set a $178.00 target price on shares of L-3 Communications Holdings in a research note on Friday, June 2nd. Finally, BidaskClub upgraded L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th.
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In other L-3 Communications Holdings 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 Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 67,641 shares of company stock valued at $11,432,231. 2.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LLL. Thrivent Financial for Lutherans raised its position in L-3 Communications Holdings by 5.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,710 shares of the aerospace company’s stock worth $412,000 after buying an additional 130 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in L-3 Communications Holdings during the fourth quarter worth about $1,041,000. Kentucky Retirement Systems bought a new position in L-3 Communications Holdings during the fourth quarter worth about $853,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in L-3 Communications Holdings during the fourth quarter worth about $381,000. Finally, Triangle Securities Wealth Management bought a new position in L-3 Communications Holdings during the first quarter worth about $859,000. 81.93% of the stock is currently owned by institutional investors and hedge funds.
L-3 Communications Holdings (NYSE LLL) opened at 176.02 on Friday. The stock’s 50 day moving average is $170.17 and its 200 day moving average is $165.79. L-3 Communications Holdings has a 12-month low of $132.38 and a 12-month high of $180.73. The firm has a market cap of $13.71 billion, a P/E ratio of 21.47 and a beta of 1.14.
L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.18. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 5.98%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. On average, equities research analysts expect that L-3 Communications Holdings will post $8.75 EPS for the current year.
L-3 Communications Holdings announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 9th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the aerospace company to buy up to 11.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Tuesday, August 15th. L-3 Communications Holdings’s dividend payout ratio is currently 36.54%.
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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