L3 Technologies (NYSE:LLL) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “L3 Technologies enjoys a leading position in defense electronics, communications and ISR markets. The company is all set to merge with electronics and communication systems provider Harris Corp. The merged entity projects to realize $500 million of annual gross cost synergies and $3 billion of free cash flow in three years’ time, post the completion of the deal. Apart from generating substantial organic revenue growth, thanks to its varied product range, italso gains from inorganic growth. However, high interest rate leads the company to bear high interest expenses which in turn may put weigh on its bottom line. With the current U.S. economy being in favor of expanding interest rate, the credit market may not turn out to be much favorable for the company. L3 Technologies has been also witnessing weak performance in some of its product lines. Its shares also underperformed its industry in the past six months.”

Other equities analysts also recently issued reports about the stock. SunTrust Banks increased their price target on shares of L3 Technologies to $268.00 and gave the stock a “buy” rating in a research note on Tuesday, October 16th. ValuEngine raised shares of L3 Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. Vertical Research raised shares of L3 Technologies from a “hold” rating to a “buy” rating in a research note on Monday, October 15th. Citigroup decreased their target price on shares of L3 Technologies from $224.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, January 14th. Finally, JPMorgan Chase & Co. downgraded shares of L3 Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $245.00 to $240.00 in a research note on Friday, November 2nd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $232.45.

LLL stock traded up $1.83 during trading on Wednesday, reaching $180.48. The company had a trading volume of 27,986 shares, compared to its average volume of 545,776. L3 Technologies has a 52 week low of $158.76 and a 52 week high of $223.73. The company has a market cap of $14.42 billion, a P/E ratio of 21.35, a PEG ratio of 1.71 and a beta of 1.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.96 and a quick ratio of 1.56.

Several large investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its stake in shares of L3 Technologies by 117.6% in the 2nd quarter. Macquarie Group Ltd. now owns 3,700 shares of the aerospace company’s stock worth $711,000 after buying an additional 2,000 shares during the last quarter. CENTRAL TRUST Co raised its position in L3 Technologies by 64.3% in the 3rd quarter. CENTRAL TRUST Co now owns 1,554 shares of the aerospace company’s stock valued at $330,000 after purchasing an additional 608 shares during the last quarter. Fox Run Management L.L.C. bought a new position in L3 Technologies in the 3rd quarter valued at $1,010,000. Atria Investments LLC bought a new position in L3 Technologies in the 3rd quarter valued at $560,000. Finally, State of Alaska Department of Revenue raised its position in L3 Technologies by 7.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 73,146 shares of the aerospace company’s stock valued at $15,550,000 after purchasing an additional 4,855 shares during the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.

L3 Technologies Company Profile

L3 Technologies, Inc provides aerospace systems, communication, electronic, and sensor systems used on military, homeland security, and commercial platforms in the United States and internationally. It offers simulation and training, night vision and image intensification equipment, and security and detection systems; and components, products, subsystems, and systems, as well as related services to military and commercial customers in various business areas, such as total training solutions, power and propulsion systems, aviation products, precision engagement systems, and security and detection systems.

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