L-3 Communications Holdings, Inc. (LLL) Rating Increased to Hold at Zacks Investment Research

L-3 Communications Holdings, Inc. (NYSE:LLL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, October 31st.

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.”

Several other research firms also recently weighed in on LLL. Cowen and Company restated a “buy” rating and set a $200.00 price objective (up previously from $190.00) on shares of L-3 Communications Holdings in a report on Tuesday, October 3rd. ValuEngine downgraded shares of L-3 Communications Holdings from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Royal Bank Of Canada restated a “hold” rating on shares of L-3 Communications Holdings in a research report on Sunday, October 8th. Deutsche Bank AG restated a “buy” rating and set a $205.00 price target (up previously from $190.00) on shares of L-3 Communications Holdings in a research report on Monday, October 2nd. Finally, Bank of America Corporation increased their price target on shares of L-3 Communications Holdings from $185.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 10th. Eight investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $197.50.

L-3 Communications Holdings (NYSE:LLL) traded down $0.80 during trading on Tuesday, hitting $184.39. 344,900 shares of the company were exchanged, compared to its average volume of 489,006. 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 $143.54 and a 52 week high of $192.00. The firm has a market cap of $14,408.63, a P/E ratio of 21.39, a PEG ratio of 3.48 and a beta of 1.18.

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

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In related news, insider Michael T. Strianese sold 22,547 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $185.87, for a total value of $4,190,810.89. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ralph Dambrosio sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $180.23, for a total transaction of $901,150.00. The disclosure for this sale can be found here. Insiders sold 72,641 shares of company stock worth $13,399,403 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Guyasuta Investment Advisors Inc. raised its stake in shares of L-3 Communications Holdings by 0.8% during the second quarter. Guyasuta Investment Advisors Inc. now owns 142,593 shares of the aerospace company’s stock worth $23,825,000 after acquiring an additional 1,199 shares in the last quarter. Commonwealth Bank of Australia raised its stake in shares of L-3 Communications Holdings by 7,891.7% during the second quarter. Commonwealth Bank of Australia now owns 3,836 shares of the aerospace company’s stock worth $639,000 after acquiring an additional 3,788 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of L-3 Communications Holdings by 2.6% during the second quarter. Wells Fargo & Company MN now owns 882,098 shares of the aerospace company’s stock worth $147,381,000 after acquiring an additional 22,463 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of L-3 Communications Holdings by 103.8% during the second quarter. Aberdeen Asset Management PLC UK now owns 171,201 shares of the aerospace company’s stock worth $28,605,000 after acquiring an additional 87,195 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of L-3 Communications Holdings by 102.8% during the second quarter. Royal Bank of Canada now owns 58,870 shares of the aerospace company’s stock worth $9,836,000 after acquiring an additional 29,845 shares in the last quarter. 77.77% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for L-3 Communications Holdings (NYSE:LLL)

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