L-3 Communications Holdings Inc. (NYSE:LLL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $171.00 price target on the stock. Zacks Investment Research’s target price would suggest a potential upside of 12.14% from the stock’s previous close.
According to Zacks, “L-3 Communications is a pure-play provider of defense electronics and highly engineered products and services. Its strategy of gradually transforming its business portfolio to focus on defense electronics, communications and ISR markets will likely boost sales and margins going forward. On a global scale, instead of guns and ammunition, there is a growing demand for sensors, missiles and next-generation ISR technologies. This should definitely help defense players like L-3 Communications, agile enough to cater to changing demand, to witness huge gains ahead. Again, shareholder friendly moves will serve L-3 Communications well over the long haul. However, these positives are partly offset by its over dependence on government orders and budget volatility in the U.S.”
Several other equities analysts have also weighed in on LLL. Credit Suisse Group AG began coverage on shares of L-3 Communications Holdings in a research report on Tuesday, June 7th. They issued a “buy” rating and a $169.00 price objective on the stock. JPMorgan Chase & Co. raised shares of L-3 Communications Holdings from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $158.00 to $182.00 in a research report on Thursday, August 25th. Citigroup Inc. began coverage on shares of L-3 Communications Holdings in a research report on Tuesday, September 6th. They issued a “buy” rating and a $174.00 price objective on the stock. Deutsche Bank AG reissued a “buy” rating and issued a $160.00 price objective (up from $150.00) on shares of L-3 Communications Holdings in a research report on Monday, June 13th. Finally, Jefferies Group reissued a “hold” rating on shares of L-3 Communications Holdings in a research report on Monday, July 11th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $154.75.
Shares of L-3 Communications Holdings (NYSE:LLL) traded up 0.40% during trading on Wednesday, hitting $153.10. 221,712 shares of the company’s stock were exchanged. L-3 Communications Holdings has a 1-year low of $102.40 and a 1-year high of $154.50. The stock’s market cap is $11.83 billion. The stock’s 50-day moving average price is $148.93 and its 200-day moving average price is $139.36.
L-3 Communications Holdings (NYSE:LLL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.19. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.49 billion. L-3 Communications Holdings had a negative net margin of 0.85% and a positive return on equity of 14.37%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. On average, equities analysts expect that L-3 Communications Holdings will post $7.88 earnings per share for the current fiscal year.
In other L-3 Communications Holdings news, Director Arthur L. Simon sold 3,600 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $149.00, for a total transaction of $536,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Claude R. Canizares sold 2,469 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $150.23, for a total transaction of $370,917.87. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. ING Groep NV purchased a new stake in shares of L-3 Communications Holdings during the first quarter worth about $206,000. Advisor Partners LLC increased its stake in shares of L-3 Communications Holdings by 8.0% in the first quarter. Advisor Partners LLC now owns 2,194 shares of the company’s stock worth $260,000 after buying an additional 163 shares during the last quarter. Shufro Rose & Co. LLC increased its stake in shares of L-3 Communications Holdings by 42.9% in the first quarter. Shufro Rose & Co. LLC now owns 5,000 shares of the company’s stock worth $593,000 after buying an additional 1,500 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in shares of L-3 Communications Holdings by 18.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,003,025 shares of the company’s stock worth $118,858,000 after buying an additional 152,925 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of L-3 Communications Holdings by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 2,645,100 shares of the company’s stock worth $313,446,000 after buying an additional 112,599 shares during the last quarter. Hedge funds and other institutional investors own 80.40% of the company’s stock.
L-3 Communications Holdings Company Profile
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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