L-3 Communications Holdings, Inc. (LLL) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of L-3 Communications Holdings, Inc. (NYSE:LLL) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “L3 Technologies reported mixed results in the third quarter of 2017. While its bottom line surpassed the Zacks Consensus Estimate, the top line failed to meet the corresponding consensus mark. Year-over-year results were impressive on both fronts. Notably, L3 Technologies enjoys leading position in defense electronics, communications and ISR markets. Moreover, its consistent growth in the commercial aviation space, especially in North America and Europe, is appreciable. However the stock underperformed the broader industry in last three months. L3 Technologies depends largely on contracts from the U.S. government. Also high interest rate leads the company to bear high interest expenses which in turn may put downward pressure on its bottom line. Nevertheless, the improved guidance for 2017 buoys optimism indicating further upside in this stock.”
Other equities research analysts have also issued research reports about the company. Cowen and Company restated a buy rating and set a $190.00 price target on shares of L-3 Communications Holdings in a research note on Monday, August 14th. Jefferies Group LLC restated a hold rating and set a $175.00 price target on shares of L-3 Communications Holdings in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) upgraded L-3 Communications Holdings from a buy rating to a conviction-buy rating and boosted their price target for the stock from $195.00 to $204.00 in a research note on Monday, August 7th. Stifel Nicolaus boosted their price target on L-3 Communications Holdings from $195.00 to $205.00 and gave the stock a hold rating in a research note on Friday, October 27th. Finally, ValuEngine lowered L-3 Communications Holdings from a buy rating to a hold rating in a research note on Monday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. L-3 Communications Holdings has a consensus rating of Hold and a consensus price target of $195.50.
L-3 Communications Holdings (LLL) traded up $0.97 during midday trading on Tuesday, hitting $186.52. 525,424 shares of the stock were exchanged, compared to its average volume of 457,386. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 21.76 and a beta of 1.18.
L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, October 26th. The aerospace company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.03. L-3 Communications Holdings had a return on equity of 14.00% and a net margin of 5.22%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. equities analysts anticipate that L-3 Communications Holdings will post 8.92 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, November 16th. L-3 Communications Holdings’s dividend payout ratio (DPR) is 41.27%.
In related news, insider Michael T. Strianese sold 22,547 shares of L-3 Communications Holdings stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $186.40, for a total transaction of $4,202,760.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ralph Dambrosio sold 5,000 shares of L-3 Communications Holdings stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $180.23, for a total value of $901,150.00. The disclosure for this sale can be found here. Insiders have sold 75,622 shares of company stock valued at $13,940,991 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of L-3 Communications Holdings by 5.3% during the second quarter. Vanguard Group Inc. now owns 8,556,292 shares of the aerospace company’s stock worth $1,429,586,000 after purchasing an additional 431,776 shares during the period. BlackRock Inc. lifted its holdings in L-3 Communications Holdings by 5.8% in the second quarter. BlackRock Inc. now owns 5,734,197 shares of the aerospace company’s stock valued at $958,069,000 after acquiring an additional 313,761 shares during the period. Boston Partners lifted its holdings in L-3 Communications Holdings by 80.6% in the second quarter. Boston Partners now owns 2,114,987 shares of the aerospace company’s stock valued at $353,372,000 after acquiring an additional 944,150 shares during the period. Dimensional Fund Advisors LP lifted its holdings in L-3 Communications Holdings by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 941,274 shares of the aerospace company’s stock valued at $157,265,000 after acquiring an additional 27,812 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in L-3 Communications Holdings by 2.6% in the second quarter. Wells Fargo & Company MN now owns 882,098 shares of the aerospace company’s stock valued at $147,381,000 after acquiring an additional 22,463 shares during the period. 78.88% of the stock is owned by hedge funds and other institutional investors.
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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