L-3 Communications Holdings Inc. (LLL) Coverage Initiated by Analysts at Robert W. Baird
Robert W. Baird initiated coverage on shares of L-3 Communications Holdings Inc. (NYSE:LLL) in a research note issued to investors on Wednesday morning. The brokerage issued an outperform rating and a $184.00 price objective on the stock.
Several other equities analysts have also recently issued reports on LLL. Credit Suisse Group AG began coverage on L-3 Communications Holdings in a research note on Tuesday, June 7th. They set a buy rating and a $169.00 price objective on the stock. Zacks Investment Research raised L-3 Communications Holdings from a hold rating to a buy rating and set a $162.00 target price on the stock in a research report on Tuesday, June 14th. JPMorgan Chase & Co. raised L-3 Communications Holdings from a neutral rating to an overweight rating and increased their target price for the stock from $158.00 to $182.00 in a research report on Thursday, August 25th. Citigroup Inc. started coverage on L-3 Communications Holdings in a research report on Tuesday, September 6th. They issued a buy rating and a $174.00 target price on the stock. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $160.00 target price (up from $150.00) on shares of L-3 Communications Holdings in a research report on Monday, June 13th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $157.00.
Shares of L-3 Communications Holdings (NYSE:LLL) traded up 0.229% during trading on Wednesday, hitting $150.795. 208,469 shares of the stock were exchanged. The company’s market cap is $11.65 billion. The firm has a 50 day moving average of $149.22 and a 200-day moving average of $140.63. L-3 Communications Holdings has a 12-month low of $105.88 and a 12-month high of $154.50.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business posted $1.36 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts forecast that L-3 Communications Holdings will post $7.88 earnings per share for the current year.
In related news, Chairman Michael T. Strianese sold 100,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $149.64, for a total value of $14,964,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur L. Simon sold 3,600 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $149.00, for a total value of $536,400.00. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. CT Mason raised its position in L-3 Communications Holdings by 79.2% in the third quarter. CT Mason now owns 25,547 shares of the company’s stock worth $3,851,000 after buying an additional 11,287 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in L-3 Communications Holdings during the second quarter worth $456,000. Kentucky Retirement Systems bought a new position in L-3 Communications Holdings during the second quarter worth $960,000. Mason Street Advisors LLC bought a new position in L-3 Communications Holdings during the second quarter worth $1,520,000. Finally, Royal Bank of Canada raised its position in L-3 Communications Holdings by 493.9% in the second quarter. Royal Bank of Canada now owns 85,287 shares of the company’s stock worth $12,510,000 after buying an additional 70,927 shares during the period. Institutional investors and hedge funds 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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