Cowen Reiterates “Buy” Rating for L-3 Communications (LLL)

L-3 Communications (NYSE:LLL)‘s stock had its “buy” rating reaffirmed by equities researchers at Cowen in a report issued on Wednesday. They currently have a $210.00 price target on the aerospace company’s stock. Cowen’s price target suggests a potential upside of 7.89% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. ValuEngine raised L-3 Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Drexel Hamilton raised L-3 Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Deutsche Bank reaffirmed a “buy” rating and set a $205.00 price target (up previously from $190.00) on shares of L-3 Communications in a research report on Monday, October 2nd. Zacks Investment Research raised L-3 Communications from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a research report on Monday, October 2nd. Finally, SunTrust Banks initiated coverage on L-3 Communications in a research report on Monday, November 20th. They set a “buy” rating on the stock. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $198.36.

L-3 Communications (NYSE LLL) traded down $0.41 during mid-day trading on Wednesday, reaching $194.64. The company’s stock had a trading volume of 770,100 shares, compared to its average volume of 553,100. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.80. L-3 Communications has a twelve month low of $143.54 and a twelve month high of $199.97. The stock has a market capitalization of $15,241.63, a PE ratio of 22.63, a P/E/G ratio of 3.88 and a beta of 1.19.

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

In related news, insider Michael T. Strianese sold 22,547 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $185.87, for a total transaction of $4,190,810.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 67,639 shares of company stock worth $12,818,253 in the last ninety days. Insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LLL. Acrospire Investment Management LLC purchased a new stake in L-3 Communications during the 2nd quarter worth about $100,000. Bronfman E.L. Rothschild L.P. increased its stake in L-3 Communications by 103.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 654 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 332 shares during the last quarter. Invictus RG bought a new position in L-3 Communications in the 3rd quarter worth about $135,000. San Francisco Sentry Investment Group CA bought a new position in L-3 Communications in the 2nd quarter worth about $171,000. Finally, Parallel Advisors LLC increased its stake in L-3 Communications by 56.5% in the 3rd quarter. Parallel Advisors LLC now owns 961 shares of the aerospace company’s stock worth $178,000 after acquiring an additional 347 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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About L-3 Communications

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.

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

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