L-3 Communications Holdings’ (NYSE:LLL) “Buy” Rating Reaffirmed at Cowen and Company
L-3 Communications Holdings, Inc. (NYSE:LLL)‘s stock had its “buy” rating restated by equities research analysts at Cowen and Company in a research note issued on Monday. They presently have a $190.00 target price on the aerospace company’s stock. Cowen and Company’s price target would indicate a potential upside of 3.47% from the stock’s previous close.
The analysts wrote, “LLL’s loss of its SOF GLSS bid is a modest disappointment given we’d assessed a 30%.””
LLL has been the subject of several other reports. Drexel Hamilton upgraded L-3 Communications Holdings from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC restated a “hold” rating and issued a $175.00 target price on shares of L-3 Communications Holdings in a report on Sunday, July 30th. Stifel Nicolaus restated a “hold” rating and issued a $175.00 target price (up from $170.00) on shares of L-3 Communications Holdings in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) upgraded L-3 Communications Holdings from a “buy” rating to a “conviction-buy” rating and upped their target price for the company from $195.00 to $204.00 in a report on Monday, August 7th. Finally, Zacks Investment Research cut L-3 Communications Holdings from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $182.50.
L-3 Communications Holdings (LLL) opened at 183.63 on Monday. The company has a market capitalization of $14.36 billion, a P/E ratio of 20.70 and a beta of 1.15. The stock’s 50 day moving average price is $173.27 and its 200-day moving average price is $167.88. L-3 Communications Holdings has a 52-week low of $132.38 and a 52-week high of $185.12.
L-3 Communications Holdings (NYSE:LLL) last issued its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the business earned $1.88 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that L-3 Communications Holdings will post $8.89 earnings per share for the current fiscal year.
L-3 Communications Holdings declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 9th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the aerospace company to buy up to 11.5% of its shares through open market purchases. Shares repurchase plans 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 company’s stock in a transaction 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 document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 67,641 shares of company stock worth $11,511,371. Corporate insiders own 2.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Cleararc Capital Inc. raised its position in shares of L-3 Communications Holdings by 0.3% in the first quarter. Cleararc Capital Inc. now owns 1,755 shares of the aerospace company’s stock valued at $290,000 after buying an additional 5 shares during the period. Wedbush Securities Inc. raised its position in L-3 Communications Holdings by 0.5% in the second quarter. Wedbush Securities Inc. now owns 1,322 shares of the aerospace company’s stock valued at $221,000 after buying an additional 6 shares during the last quarter. Honkamp Krueger Financial Services Inc. raised its position in L-3 Communications Holdings by 0.6% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 1,314 shares of the aerospace company’s stock valued at $220,000 after buying an additional 8 shares during the last quarter. Northeast Financial Consultants Inc raised its position in L-3 Communications Holdings by 0.3% in the first quarter. Northeast Financial Consultants Inc now owns 3,323 shares of the aerospace company’s stock valued at $549,000 after buying an additional 10 shares during the last quarter. Finally, MAI Capital Management raised its position in L-3 Communications Holdings by 0.8% in the second quarter. MAI Capital Management now owns 2,015 shares of the aerospace company’s stock valued at $337,000 after buying an additional 15 shares during the last quarter. 82.67% of the stock is currently owned by institutional investors and hedge funds.
L-3 Communications Holdings Company Profile
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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