L-3 Communications Holdings, Inc. (LLL) Earns Buy Rating from Cowen and Company
Cowen and Company reiterated their buy rating on shares of L-3 Communications Holdings, Inc. (NYSE:LLL) in a research note published on Tuesday morning. Cowen and Company currently has a $200.00 price objective on the aerospace company’s stock, up from their prior price objective of $190.00.
A number of other analysts have also recently weighed in on the stock. ValuEngine cut shares of L-3 Communications Holdings from a buy rating to a hold rating in a research report on Monday. Deutsche Bank AG reaffirmed a buy rating and set a $205.00 price target (up from $190.00) on shares of L-3 Communications Holdings in a research report on Monday. Zacks Investment Research raised shares of L-3 Communications Holdings from a hold rating to a buy rating and set a $210.00 price target for the company in a research report on Monday. Royal Bank Of Canada reaffirmed a hold rating and set a $182.00 price target on shares of L-3 Communications Holdings in a research report on Friday, September 1st. Finally, Drexel Hamilton raised shares of L-3 Communications Holdings from a hold rating to a buy rating in a research report on Tuesday, August 8th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $187.27.
Shares of L-3 Communications Holdings (NYSE LLL) traded down 0.05% during mid-day trading on Tuesday, hitting $189.32. The stock had a trading volume of 182,398 shares. The stock has a market cap of $14.81 billion, a P/E ratio of 21.34 and a beta of 1.15. L-3 Communications Holdings has a 12-month low of $132.38 and a 12-month high of $192.00. The company’s 50 day moving average price is $184.55 and its 200 day moving average price is $173.24.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $2.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the company earned $1.88 EPS. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that L-3 Communications Holdings will post $8.89 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 17th were issued a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 1.58%. L-3 Communications Holdings’s dividend payout ratio is currently 33.82%.
In other L-3 Communications Holdings news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $185.87, for a total value of $4,190,810.89. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Claude R. Canizares sold 2,981 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $181.68, for a total transaction of $541,588.08. The disclosure for this sale can be found here. Insiders sold a total of 75,622 shares of company stock worth $13,649,909 in the last quarter. 2.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Fulton Bank N.A. acquired a new position in L-3 Communications Holdings in the 3rd quarter worth $202,000. Intl Fcstone Inc. acquired a new position in L-3 Communications Holdings in the 2nd quarter worth $974,000. Sentry Investment Management LLC lifted its holdings in L-3 Communications Holdings by 67.3% in the 2nd quarter. Sentry Investment Management LLC now owns 6,168 shares of the aerospace company’s stock worth $1,031,000 after buying an additional 2,482 shares in the last quarter. Toronto Dominion Bank lifted its holdings in L-3 Communications Holdings by 25.7% in the 2nd quarter. Toronto Dominion Bank now owns 26,379 shares of the aerospace company’s stock worth $4,407,000 after buying an additional 5,389 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. acquired a new position in L-3 Communications Holdings in the 2nd quarter worth $673,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.
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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