L-3 Communications Holdings, Inc. (LLL) Downgraded to Hold at ValuEngine
ValuEngine cut shares of L-3 Communications Holdings, Inc. (NYSE:LLL) from a buy rating to a hold rating in a report released on Monday morning.
Several other analysts have also recently commented on LLL. Cowen and Company restated a buy rating and set a $185.00 target price on shares of L-3 Communications Holdings in a report on Thursday, July 20th. Royal Bank Of Canada reaffirmed a hold rating and issued a $182.00 price target on shares of L-3 Communications Holdings in a report on Friday, September 1st. BidaskClub raised L-3 Communications Holdings from a sell rating to a hold rating in a report on Tuesday, June 13th. Deutsche Bank AG reiterated a buy rating and set a $205.00 price target (up previously from $190.00) on shares of L-3 Communications Holdings in a research report on Monday. Finally, Stifel Nicolaus reiterated a hold rating and set a $175.00 price target (up previously from $170.00) on shares of L-3 Communications Holdings in a research report on Sunday, July 30th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. L-3 Communications Holdings presently has a consensus rating of Buy and a consensus target price of $186.36.
L-3 Communications Holdings (NYSE:LLL) opened at 191.55 on Monday. L-3 Communications Holdings has a 12 month low of $132.38 and a 12 month high of $191.60. The company has a 50-day moving average of $183.90 and a 200-day moving average of $172.85. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 21.59 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.18. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the firm posted $1.88 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Analysts predict that L-3 Communications Holdings will post $8.89 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 1.57%. L-3 Communications Holdings’s dividend payout ratio is currently 33.82%.
In related news, Director Claude R. Canizares sold 2,981 shares of L-3 Communications Holdings stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total transaction of $541,588.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $173.49, for a total transaction of $3,911,679.03. The disclosure for this sale can be found here. Insiders sold 53,075 shares of company stock valued at $9,459,098 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC bought a new stake in shares of L-3 Communications Holdings in the second quarter worth about $100,000. Parallel Advisors LLC raised its position in shares of L-3 Communications Holdings by 4.6% during the first quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 27 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of L-3 Communications Holdings by 103.1% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 332 shares during the period. FNY Partners Fund LP acquired a new stake in shares of L-3 Communications Holdings during the first quarter worth about $115,000. Finally, FNY Managed Accounts LLC bought a new position in shares of L-3 Communications Holdings during the 1st quarter valued at about $141,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.
About L-3 Communications Holdings
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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