L-3 Communications Holdings, Inc. (NYSE:LLL)‘s stock had its “hold” rating reissued by stock analysts at Stifel Nicolaus in a report issued on Sunday, July 30th. They presently have a $175.00 price target on the aerospace company’s stock, up from their previous price target of $170.00. Stifel Nicolaus’ price target would suggest a potential downside of 1.73% from the stock’s previous close.
Several other equities analysts also recently weighed in on LLL. Deutsche Bank AG lifted their target price on L-3 Communications Holdings from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 target price (up from $160.00) on shares of L-3 Communications Holdings in a research report on Saturday, April 29th. Barclays PLC downgraded L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $165.00 to $175.00 in a research report on Monday, May 1st. Royal Bank Of Canada reissued a “hold” rating and set a $178.00 price objective on shares of L-3 Communications Holdings in a research report on Friday, June 2nd. Finally, BidaskClub raised L-3 Communications Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $182.50.
L-3 Communications Holdings (NYSE:LLL) opened at 178.08 on Friday. The stock has a 50 day moving average of $175.22 and a 200-day moving average of $168.82. L-3 Communications Holdings has a 12-month low of $132.38 and a 12-month high of $185.12. The company has a market capitalization of $13.93 billion, a PE ratio of 20.07 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last released its earnings results on Thursday, July 27th. The aerospace company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.18. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate 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 revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. Equities analysts expect that L-3 Communications Holdings will post $8.87 earnings per share for the current year.
L-3 Communications Holdings announced that its Board of Directors has authorized a share buyback plan on Tuesday, May 9th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the aerospace company to buy up to 11.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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In other news, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $168.04, for a total transaction of $3,788,797.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. In the last quarter, insiders sold 70,622 shares of company stock valued at $12,052,959. 2.90% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in L-3 Communications Holdings during the second quarter valued at approximately $100,000. Parallel Advisors LLC boosted its stake in L-3 Communications Holdings by 4.6% in the first quarter. Parallel Advisors LLC now owns 614 shares of the aerospace company’s stock valued at $103,000 after buying an additional 27 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in L-3 Communications Holdings by 103.1% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock valued at $109,000 after buying an additional 332 shares during the period. FNY Partners Fund LP bought a new stake in L-3 Communications Holdings during the first quarter valued at approximately $115,000. Finally, FNY Managed Accounts LLC bought a new stake in L-3 Communications Holdings during the first quarter valued at approximately $141,000. Institutional investors and hedge funds own 82.67% 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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