L-3 Communications Holdings, Inc. (NYSE:LLL) Lowered to Sell at Zacks Investment Research

L-3 Communications Holdings, Inc. (NYSE:LLL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, October 17th.

According to Zacks, “L3 Technologies’ stock underperformed the broader industry in past one year. The company has been witnessing weak performance in some of its product lines, for quite some time in the past. The most worrying aspect of this is the downward trend in margins for service-related work due to competitive pressure. Moreover, L3 Technologies depend largely on contracts from the U.S. government. If a significant number of the company’s government contracts and subcontracts are simultaneously delayed or cancelled for budgetary, performance or other reasons, it would materially hamper the company’s results of operations and cash flows. Nevertheless, its consistent growth in the commercial aviation space, especially in the matured markets of North America and Europe, is appreciable.”

LLL has been the subject of a number of other research reports. Cowen and Company reissued a “buy” rating and set a $190.00 price target on shares of L-3 Communications Holdings in a report on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and set a $175.00 price target on shares of L-3 Communications Holdings in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) raised 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 report on Monday, August 7th. ValuEngine cut L-3 Communications Holdings from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of L-3 Communications Holdings in a report on Sunday, October 8th. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $195.50.

Shares of L-3 Communications Holdings (NYSE LLL) traded down $0.12 during trading hours on Tuesday, reaching $186.40. The company’s stock had a trading volume of 510,623 shares, compared to its average volume of 462,972. The company has a market capitalization of $14,575.07, a PE ratio of 21.64, a price-to-earnings-growth ratio of 3.52 and a beta of 1.18. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 0.66. L-3 Communications Holdings has a 52-week low of $133.75 and a 52-week high of $192.00.

L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, October 26th. The aerospace company reported $1.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.03. The firm had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.68 billion. L-3 Communications Holdings had a return on equity of 14.00% and a net margin of 5.22%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.88 EPS. equities research analysts forecast that L-3 Communications Holdings will post 8.92 earnings per share for the current fiscal year.

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In other L-3 Communications Holdings news, insider Ralph Dambrosio sold 5,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael T. Strianese sold 22,547 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $186.40, for a total value of $4,202,760.80. The disclosure for this sale can be found here. Insiders sold a total of 75,622 shares of company stock worth $13,940,991 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Guyasuta Investment Advisors Inc. boosted its position in shares of L-3 Communications Holdings by 0.8% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 142,593 shares of the aerospace company’s stock valued at $23,825,000 after purchasing an additional 1,199 shares in the last quarter. Commonwealth Bank of Australia boosted its position in shares of L-3 Communications Holdings by 7,891.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,836 shares of the aerospace company’s stock valued at $639,000 after purchasing an additional 3,788 shares in the last quarter. Bank of America Corp DE boosted its position in shares of L-3 Communications Holdings by 12.3% during the 1st quarter. Bank of America Corp DE now owns 817,309 shares of the aerospace company’s stock valued at $135,093,000 after purchasing an additional 89,320 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of L-3 Communications Holdings by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 882,098 shares of the aerospace company’s stock valued at $147,381,000 after purchasing an additional 22,463 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of L-3 Communications Holdings by 103.8% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 171,201 shares of the aerospace company’s stock valued at $28,605,000 after purchasing an additional 87,195 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

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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