L-3 Communications Holdings Inc. (LLL) Price Target Increased to $180.00 by Analysts at Citigroup Inc.
L-3 Communications Holdings Inc. (NYSE:LLL) had its price objective increased by Citigroup Inc. from $174.00 to $180.00 in a research note released on Monday. They currently have a buy rating on the stock.
Several other brokerages have also issued reports on LLL. Zacks Investment Research raised L-3 Communications Holdings from a hold rating to a buy rating and set a $171.00 target price for the company in a research note on Wednesday, September 28th. Robert W. Baird initiated coverage on L-3 Communications Holdings in a research note on Wednesday, October 5th. They set an outperform rating and a $184.00 price objective for the company. Jefferies Group increased their price objective on L-3 Communications Holdings from $135.00 to $150.00 and gave the company a hold rating in a research note on Friday, July 29th. Deutsche Bank AG reissued a buy rating and set a $160.00 price objective on shares of L-3 Communications Holdings in a research note on Monday, August 15th. Finally, JPMorgan Chase & Co. raised 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 note on Thursday, August 25th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. L-3 Communications Holdings has an average rating of Buy and a consensus target price of $157.46.
Shares of L-3 Communications Holdings (NYSE:LLL) opened at 150.28 on Monday. The firm’s 50-day moving average is $149.41 and its 200-day moving average is $141.50. The company’s market cap is $11.61 billion. L-3 Communications Holdings has a 52 week low of $105.88 and a 52 week high of $154.50.
L-3 Communications Holdings (NYSE:LLL) last issued its earnings results 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. The business earned $2.66 billion during the quarter, compared to analyst estimates of $2.49 billion. L-3 Communications Holdings had a positive return on equity of 14.37% and a negative net margin of 0.85%. L-3 Communications Holdings’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Equities research analysts predict that L-3 Communications Holdings will post $7.88 earnings per share for the current year.
In other L-3 Communications Holdings news, Director Arthur L. Simon sold 3,600 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $149.00, for a total value of $536,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael T. Strianese sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $149.64, for a total value of $14,964,000.00. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. bought a new position in L-3 Communications Holdings during the second quarter worth $88,005,000. Ameriprise Financial Inc. boosted 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 worth $76,113,000 after buying an additional 461,939 shares during the last quarter. Renaissance Technologies LLC boosted 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 worth $64,180,000 after buying an additional 430,800 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $1,051,465,000 after buying an additional 414,327 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted 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 worth $111,540,000 after buying an additional 243,413 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.
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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