The Citigroup Inc. Raises L-3 Communications Holdings Inc. (LLL) Price Target to $180.00

The Citigroup Inc. Raises L-3 Communications Holdings Inc. (LLL) Price Target to $180.00

L-3 Communications Holdings Inc. (NYSE:LLL) had its price target lifted by Citigroup Inc. from $174.00 to $180.00 in a research note issued to investors on Monday. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on LLL. Deutsche Bank AG reaffirmed a buy rating and set a $160.00 price target (up from $150.00) on shares of L-3 Communications Holdings in a research note on Monday, June 13th. Zacks Investment Research raised L-3 Communications Holdings from a hold rating to a buy rating and set a $162.00 price target for the company in a research note on Tuesday, June 14th. Jefferies Group reaffirmed a hold rating on shares of L-3 Communications Holdings in a research note on Monday, July 11th. JPMorgan Chase & Co. raised L-3 Communications Holdings from a neutral rating to an overweight rating and raised their price target for the stock from $158.00 to $182.00 in a research note on Thursday, August 25th. Finally, Robert W. Baird assumed coverage on L-3 Communications Holdings in a research note on Wednesday, October 5th. They set an outperform rating and a $184.00 price target for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $157.46.

L-3 Communications Holdings (NYSE:LLL) opened at 149.16 on Monday. The firm’s market capitalization is $11.52 billion. L-3 Communications Holdings has a 12 month low of $105.88 and a 12 month high of $154.50. The firm has a 50 day moving average price of $149.48 and a 200-day moving average price of $141.61.

L-3 Communications Holdings (NYSE:LLL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.19. L-3 Communications Holdings had a positive return on equity of 14.37% and a negative net margin of 0.85%. The company earned $2.66 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business earned $1.36 EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. On average, equities analysts forecast that L-3 Communications Holdings will post $7.88 EPS for the current year.

In other news, Director Arthur L. Simon sold 3,600 shares of L-3 Communications Holdings stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $149.00, for a total transaction of $536,400.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Claude R. Canizares sold 2,469 shares of L-3 Communications Holdings stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $150.23, for a total value of $370,917.87. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in LLL. Tuttle Tactical Management LLC purchased a new stake in shares of L-3 Communications Holdings during the second quarter valued at $107,000. PineBridge Investments L.P. increased its position in L-3 Communications Holdings by 79.7% in the second quarter. PineBridge Investments L.P. now owns 1,003 shares of the company’s stock valued at $147,000 after buying an additional 445 shares during the period. Mizuho Asset Management Co. Ltd. increased its position in L-3 Communications Holdings by 77.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,008 shares of the company’s stock valued at $148,000 after buying an additional 439 shares during the period. Global X Management Co. LLC increased its position in L-3 Communications Holdings by 114.8% in the second quarter. Global X Management Co. LLC now owns 1,205 shares of the company’s stock valued at $177,000 after buying an additional 644 shares during the period. Finally, Telos Capital Management Inc. bought a new position in L-3 Communications Holdings during the second quarter valued at approximately $201,000. 80.41% of the stock is currently owned by institutional investors.

About L-3 Communications Holdings

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