L-3 Communications Holdings Inc. (LLL) Price Target Raised to $180.00
L-3 Communications Holdings Inc. (NYSE:LLL) had its price objective lifted by Citigroup Inc. from $174.00 to $180.00 in a research note issued to investors on Monday. They currently have a buy rating on the stock.
A number of other research firms have also recently issued reports on LLL. Zacks Investment Research raised L-3 Communications Holdings from a hold rating to a buy rating and set a $171.00 target price for the company in a research note on Wednesday, September 28th. Robert W. Baird assumed coverage on L-3 Communications Holdings in a research note on Wednesday, October 5th. They set an outperform rating and a $184.00 target price for the company. Jefferies Group increased their target price on L-3 Communications Holdings from $135.00 to $150.00 and gave the stock a hold rating in a research note on Friday, July 29th. Deutsche Bank AG reissued a buy rating and set a $160.00 target price on shares of L-3 Communications Holdings in a research note on Monday, August 15th. Finally, JPMorgan Chase & Co. raised L-3 Communications Holdings from a neutral rating to an overweight rating and increased their target price for the stock from $158.00 to $182.00 in a research note on Thursday, August 25th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $157.46.
L-3 Communications Holdings (NYSE:LLL) opened at 149.05 on Monday. The company’s 50-day moving average is $149.55 and its 200-day moving average is $141.66. The company’s market cap is $11.51 billion. L-3 Communications Holdings has a 12 month low of $105.88 and a 12 month high of $154.50.
L-3 Communications Holdings (NYSE:LLL) last posted its earnings results on Thursday, July 28th. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.19. L-3 Communications Holdings had a positive return on equity of 14.37% and a negative net margin of 0.85%. The business earned $2.66 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business earned $1.36 EPS. L-3 Communications Holdings’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities research analysts anticipate that L-3 Communications Holdings will post $7.88 earnings per share for the current year.
In other L-3 Communications Holdings news, Director Arthur L. Simon sold 3,600 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $149.00, for a total transaction of $536,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael T. Strianese sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $149.64, for a total value of $14,964,000.00. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of L-3 Communications Holdings by 388.8% in the first quarter. Renaissance Technologies LLC now owns 541,600 shares of the company’s stock valued at $64,180,000 after buying an additional 430,800 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of L-3 Communications Holdings by 41.5% in the second quarter. Retirement Systems of Alabama now owns 101,695 shares of the company’s stock valued at $14,918,000 after buying an additional 29,847 shares in the last quarter. Boston Advisors LLC boosted its position in L-3 Communications Holdings by 8.7% in the second quarter. Boston Advisors LLC now owns 245,139 shares of the company’s stock valued at $35,959,000 after buying an additional 19,715 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in L-3 Communications Holdings by 2.4% in the first quarter. Pictet Asset Management Ltd. now owns 76,699 shares of the company’s stock valued at $8,998,000 after buying an additional 1,800 shares during the last quarter. Finally, AMP Capital Investors Ltd boosted its position in L-3 Communications Holdings by 22.6% in the first quarter. AMP Capital Investors Ltd now owns 72,778 shares of the company’s stock valued at $8,733,000 after buying an additional 13,416 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.
About L-3 Communications Holdings
L-3 Communications Holdings, Inc (L-3 Holdings) operates through its operating subsidiary L-3 Communications (L-3). The Company operates through three segments: Electronic Systems, which provides a range of products and services, including components, products, subsystems, systems and related services to military and commercial customers; Aerospace Systems, which provides products and services for the Intelligence, Surveillance and Reconnaissance (ISR) market, specializing in signals intelligence (SIGINT) and multi-intelligence platforms, and Communication Systems, which provides network and communication systems, secure communications products, radio frequency components, satellite communication terminals, and space, microwave and telemetry products.
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