Robert W. Baird initiated coverage on shares of L-3 Communications Holdings Inc. (NYSE:LLL) in a research report report published on Wednesday. The brokerage issued an outperform rating and a $184.00 target price on the stock.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised L-3 Communications Holdings from a hold rating to a buy rating and set a $162.00 price target for the company in a report on Tuesday, June 14th. Deutsche Bank AG reissued a buy rating and issued a $160.00 price target (up from $150.00) on shares of L-3 Communications Holdings in a report on Monday, June 13th. Credit Suisse Group AG started coverage on L-3 Communications Holdings in a report on Tuesday, June 7th. They issued a buy rating and a $169.00 price target for the company. Citigroup Inc. started coverage on L-3 Communications Holdings in a research note on Tuesday, September 6th. They set a buy rating and a $174.00 target price for the company. Finally, Jefferies Group upped their target price on L-3 Communications Holdings from $135.00 to $150.00 and gave the stock a hold rating in a research note on Friday, July 29th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $157.46.
L-3 Communications Holdings (NYSE:LLL) opened at 151.05 on Wednesday. The stock’s market capitalization is $11.67 billion. L-3 Communications Holdings has a 12-month low of $105.88 and a 12-month high of $154.50. The company has a 50 day moving average of $149.41 and a 200-day moving average of $141.50.
L-3 Communications Holdings (NYSE:LLL) last released its earnings results on Thursday, July 28th. The company reported $1.88 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.19. L-3 Communications Holdings had a positive return on equity of 14.37% and a negative net margin of 0.85%. The firm earned $2.66 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $1.36 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that L-3 Communications Holdings will post $7.88 earnings per share for the current year.
In related news, insider Steven M. Post sold 33,375 shares of L-3 Communications Holdings stock in a transaction on Friday, August 5th. The stock was sold at an average price of $151.29, for a total transaction of $5,049,303.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ralph Dambrosio sold 12,760 shares of L-3 Communications Holdings stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $150.00, for a total value of $1,914,000.00. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. purchased a new position in shares of L-3 Communications Holdings during the second quarter valued at about $88,005,000. Ameriprise Financial Inc. increased its position in L-3 Communications Holdings by 811.1% in the second quarter. Ameriprise Financial Inc. now owns 518,890 shares of the company’s stock valued at $76,113,000 after buying an additional 461,939 shares during the last quarter. Renaissance Technologies LLC increased its position in L-3 Communications Holdings by 388.8% in the first quarter. Renaissance Technologies LLC now owns 541,600 shares of the company’s stock valued at $64,180,000 after buying an additional 430,800 shares during the last quarter. Vanguard Group Inc. increased its position in L-3 Communications Holdings by 6.1% in the second quarter. Vanguard Group Inc. now owns 7,167,942 shares of the company’s stock valued at $1,051,465,000 after buying an additional 414,327 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in L-3 Communications Holdings by 47.1% in the second quarter. TIAA CREF Investment Management LLC now owns 760,376 shares of the company’s stock valued at $111,540,000 after buying an additional 243,413 shares during the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.
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.
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