L-3 Communications Holdings, Inc. (LLL) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of L-3 Communications Holdings, Inc. (NYSE:LLL) from a hold rating to a buy rating in a report issued on Monday. They currently have $210.00 price target on the aerospace company’s stock.
According to Zacks, “L3 Technologies is transforming its business portfolio to bring more focus to defense electronics, communications and ISR markets where it has leading positions. The company follows a disciplined divestment strategy to efficiently focus on its core operations. Its consistent growth in the commercial aviation space, especially in the matured markets of North America and Europe, is also appreciable. Impressively, L3 Technologies’ earnings exceeded the Zacks Consensus Estimate in all the trailing four quarters, with an average positive surprise of 9.70%. Its raised earnings as well as revenue outlook for 2017 also buoy optimism for the stock. However, the company's overdependence on government orders as well as weaknesses observed in a few product lines continues to hurt the stock.”
LLL has been the subject of several other reports. Drexel Hamilton raised L-3 Communications Holdings from a hold rating to a buy rating in a research note on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a buy rating to a conviction-buy rating and lifted their price target for the company from $195.00 to $204.00 in a research note on Monday, August 7th. Jefferies Group LLC reissued a hold rating and issued a $175.00 price target on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Stifel Nicolaus reissued a hold rating and issued a $175.00 price target (up previously from $170.00) on shares of L-3 Communications Holdings in a report on Sunday, July 30th. Finally, Cowen and Company reissued a buy rating and issued a $190.00 price target on shares of L-3 Communications Holdings in a report on Monday, August 14th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. L-3 Communications Holdings has an average rating of Buy and an average target price of $186.36.
Shares of L-3 Communications Holdings (NYSE:LLL) opened at 191.48 on Monday. L-3 Communications Holdings has a one year low of $132.38 and a one year high of $192.00. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 21.58 and a beta of 1.15. The firm’s 50-day moving average is $183.90 and its 200-day moving average is $172.85.
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, topping analysts’ consensus estimates of $2.03 by $0.18. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. L-3 Communications Holdings had a return on equity of 14.15% and a net margin of 6.44%. L-3 Communications Holdings’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.88 EPS. Equities research analysts forecast that L-3 Communications Holdings will post $8.89 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 17th were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 1.57%. L-3 Communications Holdings’s payout ratio is presently 33.82%.
In other news, insider Michael T. Strianese sold 22,547 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Claude R. Canizares sold 2,981 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $181.68, for a total value of $541,588.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,075 shares of company stock valued at $9,459,098. 2.90% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in LLL. Guyasuta Investment Advisors Inc. grew its holdings in L-3 Communications Holdings by 0.8% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 142,593 shares of the aerospace company’s stock valued at $23,825,000 after buying an additional 1,199 shares in the last quarter. Commonwealth Bank of Australia increased its stake in shares of L-3 Communications Holdings by 7,891.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,836 shares of the aerospace company’s stock worth $639,000 after acquiring an additional 3,788 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of L-3 Communications Holdings by 12.3% during the 1st quarter. Bank of America Corp DE now owns 817,309 shares of the aerospace company’s stock worth $135,093,000 after acquiring an additional 89,320 shares during the period. Wells Fargo & Company MN raised its holdings in shares of L-3 Communications Holdings by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 882,098 shares of the aerospace company’s stock worth $147,381,000 after acquiring an additional 22,463 shares during the period. Finally, Aberdeen Asset Management PLC UK raised its holdings in shares of L-3 Communications Holdings by 103.8% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 171,201 shares of the aerospace company’s stock worth $28,605,000 after acquiring an additional 87,195 shares during the period. 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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