L-3 Communications Holdings, Inc. (LLL) Lifted to Conviction-Buy at Goldman Sachs Group, Inc. (The)
L-3 Communications Holdings, Inc. (NYSE:LLL) was upgraded by research analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “conviction-buy” rating in a research note issued on Monday, The Fly reports.
A number of other equities analysts also recently commented on the stock. Barclays PLC downgraded shares of L-3 Communications Holdings from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $165.00 to $175.00 in a report on Monday, May 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $178.00 price objective on shares of L-3 Communications Holdings in a report on Friday, June 2nd. Cowen and Company reaffirmed an “outperform” rating and set a $185.00 price objective on shares of L-3 Communications Holdings in a report on Wednesday, June 14th. Deutsche Bank AG raised their price objective on shares of L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $170.00 price objective (up from $160.00) on shares of L-3 Communications Holdings in a report on Saturday, April 29th. Ten analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $180.09.
L-3 Communications Holdings (NYSE LLL) opened at 176.00 on Monday. The firm has a 50-day moving average of $170.97 and a 200 day moving average of $166.60. L-3 Communications Holdings has a 52-week low of $132.38 and a 52-week high of $180.73. The company has a market cap of $13.77 billion, a PE ratio of 19.84 and a beta of 1.15.
L-3 Communications Holdings (NYSE:LLL) last released its quarterly earnings data on Thursday, July 27th. The aerospace company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 6.44% and a return on equity of 14.15%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $1.88 EPS. Equities research analysts expect that L-3 Communications Holdings will post $8.88 earnings per share for the current fiscal year.
L-3 Communications Holdings announced that its board has authorized a stock repurchase plan on Tuesday, May 9th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 11.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other L-3 Communications Holdings news, Chairman Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $169.02, for a total value of $3,810,893.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 67,641 shares of company stock valued at $11,511,371 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.
Large investors have recently bought and sold shares of the stock. 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 last quarter. FNY Partners Fund LP bought a new stake in L-3 Communications Holdings during the first quarter valued at $115,000. FNY Managed Accounts LLC bought a new stake in L-3 Communications Holdings during the first quarter valued at $141,000. Heritage Trust Co bought a new stake in L-3 Communications Holdings during the first quarter valued at $165,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in L-3 Communications Holdings during the first quarter valued at $174,000. Hedge funds and other institutional investors own 81.21% 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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