Cowen and Company reiterated their buy rating on shares of L-3 Communications Holdings, Inc. (NYSE:LLL) in a research note released on Thursday. Cowen and Company currently has a $185.00 price objective on the aerospace company’s stock.
“We expect investors will react positively to L-3’s succession announcement, which.”,” Cowen and Company’s analyst commented.
LLL has been the subject of a number of other reports. Royal Bank Of Canada reaffirmed a hold rating and set a $159.00 price objective on shares of L-3 Communications Holdings in a research note on Friday, March 24th. Deutsche Bank AG lifted their price objective on L-3 Communications Holdings from $175.00 to $190.00 and gave the stock a buy rating in a research note on Friday, April 28th. Zacks Investment Research raised L-3 Communications Holdings from a hold rating to a buy rating and set a $187.00 price objective for the company in a research note on Wednesday, March 29th. BidaskClub raised L-3 Communications Holdings from a sell rating to a hold rating in a research note on Tuesday, June 13th. 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 research note on Saturday, April 29th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $179.18.
L-3 Communications Holdings (LLL) traded down 0.62% during trading on Thursday, hitting $176.62. The company had a trading volume of 1,106,401 shares. L-3 Communications Holdings has a 12-month low of $132.38 and a 12-month high of $180.73. The firm has a 50-day moving average of $168.60 and a 200 day moving average of $165.02. The company has a market capitalization of $13.75 billion, a price-to-earnings ratio of 21.54 and a beta of 1.14.
L-3 Communications Holdings (NYSE:LLL) last announced its quarterly earnings data on Thursday, April 27th. The aerospace company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.26. L-3 Communications Holdings had a return on equity of 13.90% and a net margin of 5.98%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts forecast that L-3 Communications Holdings will post $8.76 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://stocknewstimes.com/2017/07/21/l-3-communications-holdings-inc-nyselll-given-buy-rating-at-cowen-and-company.html.
L-3 Communications Holdings declared that its board has initiated a share repurchase plan on Tuesday, May 9th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 11.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 17th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $3.00 dividend on an annualized basis and a yield of 1.70%. L-3 Communications Holdings’s payout ratio is 36.54%.
In other L-3 Communications Holdings news, insider Michael T. Strianese sold 22,547 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $169.98, for a total value of $3,832,539.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 67,641 shares of company stock valued at $11,432,231. Insiders own 2.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Northstar Asset Management LLC raised its stake in shares of L-3 Communications Holdings by 1.0% in the second quarter. Northstar Asset Management LLC now owns 9,650 shares of the aerospace company’s stock worth $1,613,000 after buying an additional 100 shares during the period. US Bancorp DE raised its stake in shares of L-3 Communications Holdings by 10.8% in the second quarter. US Bancorp DE now owns 14,687 shares of the aerospace company’s stock worth $2,453,000 after buying an additional 1,434 shares during the period. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new stake in shares of L-3 Communications Holdings during the second quarter worth approximately $1,245,000. Aperio Group LLC raised its stake in shares of L-3 Communications Holdings by 10.3% in the second quarter. Aperio Group LLC now owns 26,353 shares of the aerospace company’s stock worth $4,403,000 after buying an additional 2,467 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of L-3 Communications Holdings by 2.8% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 1,867 shares of the aerospace company’s stock worth $312,000 after buying an additional 51 shares during the period. Institutional investors own 81.86% 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.
Receive News & Ratings for L-3 Communications Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L-3 Communications Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
