L3 Technologies (LLL) Cut to Hold at Zacks Investment Research

L3 Technologies (NYSE:LLL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, March 12th.

According to Zacks, “L3 Technologies enjoys a 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. The company also follows a disciplined divestment strategy to efficiently focus on its core operations. In addition to its strong presence in the U.S. defense space, the company continues to enjoy a steady flow of Foreign Military Sales (FMS) contracts as well. However, high interest rate leads the company to bear high interest expenses which in turn may put weigh on its bottom line. It has also witnessing weak performance in some of its product lines. The most worrying aspect of this is the downward trend in margins for service-related work due to competitive pressure. Due to such reasons, the company may have underperformed its broader industry in the last one year.”

Other equities analysts also recently issued reports about the stock. ValuEngine upgraded shares of L3 Technologies from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Cowen restated a “buy” rating and issued a $225.00 target price on shares of L3 Technologies in a research note on Friday, January 26th. SunTrust Banks upped their target price on shares of L3 Technologies to $253.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Royal Bank of Canada restated a “buy” rating and issued a $250.00 target price on shares of L3 Technologies in a research note on Wednesday, January 24th. Finally, Bank of America upgraded shares of L3 Technologies from a “neutral” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Wednesday, January 17th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. L3 Technologies currently has an average rating of “Buy” and a consensus price target of $224.50.

NYSE:LLL traded down $5.29 during mid-day trading on Monday, hitting $207.78. 916,335 shares of the stock traded hands, compared to its average volume of 674,664. The company has a market capitalization of $16,485.70, a price-to-earnings ratio of 24.53, a PEG ratio of 2.67 and a beta of 1.21. L3 Technologies has a 52 week low of $159.43 and a 52 week high of $218.71. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.65.

L3 Technologies (NYSE:LLL) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.55 billion. L3 Technologies had a net margin of 6.37% and a return on equity of 13.63%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.38 EPS. equities analysts forecast that L3 Technologies will post 9.55 EPS for the current fiscal year.

In other news, Director Thomas A. Corcoran sold 1,546 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $207.40, for a total value of $320,640.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael T. Strianese sold 39,515 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $202.35, for a total transaction of $7,995,860.25. The disclosure for this sale can be found here. Insiders sold a total of 517,013 shares of company stock worth $107,431,977 over the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of L3 Technologies in the 4th quarter worth approximately $107,000. Certified Advisory Corp purchased a new stake in shares of L3 Technologies in the 4th quarter worth approximately $128,000. Invictus RG purchased a new stake in shares of L3 Technologies in the 3rd quarter worth approximately $135,000. NewSquare Capital LLC lifted its position in shares of L3 Technologies by 2,510.7% in the 4th quarter. NewSquare Capital LLC now owns 731 shares of the aerospace company’s stock worth $145,000 after purchasing an additional 703 shares during the period. Finally, Kings Point Capital Management purchased a new stake in shares of L3 Technologies in the 4th quarter worth approximately $158,000. 79.93% of the stock is owned by hedge funds and other institutional investors.

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L3 Technologies 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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