L-3 Communications Holdings, Inc. (LLL) Cut 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 research note released on Monday, October 2nd.
A number of other analysts have also issued reports on LLL. 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. Goldman Sachs Group, Inc. (The) raised shares of L-3 Communications Holdings from a buy rating to a conviction-buy rating and raised their price objective for the company from $195.00 to $204.00 in a research report on Monday, August 7th. Jefferies Group LLC reiterated a hold rating and set a $175.00 price target on shares of L-3 Communications Holdings in a report on Sunday, July 30th. Zacks Investment Research upgraded L-3 Communications Holdings from a hold rating to a buy rating and set a $210.00 price target on the stock in a report on Monday, October 2nd. Finally, Stifel Nicolaus restated a hold rating and issued a $175.00 price objective (up previously from $170.00) on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. L-3 Communications Holdings currently has a consensus rating of Hold and an average target price of $192.50.
L-3 Communications Holdings (NYSE LLL) traded down 0.67% during midday trading on Monday, reaching $187.56. 407,981 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $186.03 and its 200-day moving average price is $174.12. L-3 Communications Holdings has a 1-year low of $132.38 and a 1-year high of $192.00. The company has a market capitalization of $14.67 billion, a PE ratio of 21.14 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last announced its earnings results on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, topping the consensus estimate 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 net margin of 6.44% and a return on equity of 14.15%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the company posted $1.88 earnings per share. Equities analysts expect that L-3 Communications Holdings will post $8.85 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 17th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $3.00 annualized dividend and a dividend yield of 1.60%. L-3 Communications Holdings’s 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 that occurred on Tuesday, August 1st. The stock was sold at an average price of $173.49, for a total value of $3,911,679.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Claude R. Canizares sold 2,981 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was 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. Insiders sold a total of 75,622 shares of company stock valued at $13,649,909 over the last quarter. 2.90% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC bought a new stake in shares of L-3 Communications Holdings during the 2nd quarter worth approximately $100,000. Parallel Advisors LLC raised its stake in L-3 Communications Holdings by 4.6% in the 1st quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 27 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in L-3 Communications Holdings by 103.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 332 shares during the period. FNY Partners Fund LP bought a new stake in L-3 Communications Holdings in the 1st quarter valued at $115,000. Finally, FNY Managed Accounts LLC bought a new stake in L-3 Communications Holdings in the 1st quarter valued at $141,000. 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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