L-3 Communications Holdings, Inc. (NYSE:LLL)‘s stock had its “buy” rating reiterated by Cowen and Company in a research report issued to clients and investors on Monday. They currently have a $190.00 price objective on the aerospace company’s stock. Cowen and Company’s price objective indicates a potential upside of 3.47% from the company’s previous close.
The analysts wrote, “LLL’s loss of its SOF GLSS bid is a modest disappointment given we’d assessed a 30%.””
Several other analysts have also issued reports on the stock. Barclays PLC lowered shares of L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $165.00 to $175.00 in a research report on Monday, May 1st. Royal Bank Of Canada restated a “hold” rating and set a $178.00 price target on shares of L-3 Communications Holdings in a research report on Friday, June 2nd. Deutsche Bank AG upped their price target on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Jefferies Group LLC restated a “hold” rating and set a $170.00 price target (up from $160.00) on shares of L-3 Communications Holdings in a research report on Saturday, April 29th. Finally, BidaskClub upgraded shares of L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. L-3 Communications Holdings has a consensus rating of “Buy” and an average price target of $182.50.
L-3 Communications Holdings (LLL) opened at 183.63 on Monday. The company’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 12 month low of $132.38 and a 12 month high of $185.12. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 20.70 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last posted its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a net margin of 6.44% and a return on equity of 14.15%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the business posted $1.88 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Analysts forecast that L-3 Communications Holdings will post $8.89 EPS for the current fiscal year.
L-3 Communications Holdings declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 9th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the aerospace company to purchase up to 11.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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In other news, Chairman Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $169.02, for a total transaction of $3,810,893.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 67,641 shares of company stock valued at $11,511,371. Insiders own 2.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in LLL. ProShare Advisors LLC increased its position in L-3 Communications Holdings by 0.9% in the first quarter. ProShare Advisors LLC now owns 18,549 shares of the aerospace company’s stock worth $3,066,000 after buying an additional 169 shares during the last quarter. Korea Investment CORP increased its position in L-3 Communications Holdings by 73.3% in the first quarter. Korea Investment CORP now owns 60,396 shares of the aerospace company’s stock worth $9,983,000 after buying an additional 25,555 shares during the last quarter. Personal Capital Advisors Corp bought a new position in L-3 Communications Holdings during the first quarter worth about $3,365,000. Mn Services Vermogensbeheer B.V. increased its position in 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 during the last quarter. Finally, Retirement Systems of Alabama bought a new position in L-3 Communications Holdings during the first quarter worth about $16,146,000. 82.67% of the stock is owned by institutional investors.
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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