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LLL $245.17

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L3 Technologies, Inc.
Formerly called
L-3 Communications Holdings
Type
Public
Traded as NYSE: LLL
S&P 500 Component
Industry Aerospace, Defense
Founded 1997; 20 years ago (1997)
Headquarters New York City, New York, United States
Area served
worldwide
Key people

Michael T. Strianese
(Chairman and CEO)

Christopher E. Kubasik
(President and COO)
Products AVCATT, ISR systems, numerous specialized components
Revenue Increase US$ 10.511 billion (2016)
Operating income
Increase US$ 1.008 billion (2016)
Net income
Increase US$ 1.097 billion (2016)
Total assets Decrease US$ 11.865 billion (2016)
Total equity Increase US$ 4.624 billion (2016)
Number of employees
38,000 (2016)
Website www.l3t.com

Michael T. Strianese
(Chairman and CEO)

L3 Technologies, formerly L-3 Communications Holdings, is an American company that supplies command and control, communications, intelligence, surveillance and reconnaissance (C3ISR) systems and products, avionics, ocean products, training devices and services, instrumentation, aerospace, and navigation products. Its customers include the Department of Defense, Department of Homeland Security, U.S. Government intelligence agencies, NASA, aerospace contractors and commercial telecommunications and wireless customers.

L3 is headquartered in Murray Hill, Manhattan, New York City.

L3 was formed as L-3 Communications in 1997 to acquire certain business units from Lockheed Martin that had previously been part of Loral Corporation. These units had belonged to Lockheed Corporation and Martin Marietta, which had merged three years before in 1993. The company was founded by (and named for) Frank Lanza and Robert LaPenta in partnership with Lehman Brothers. Lanza and LaPenta had both served as executives at Loral and Lockheed.

L3 continued to expand through mergers and acquisitions to become one of the top ten U.S. government contractors.

As of 2017, L3 is organized under four business segments:

Frank Lanza, CEO and co-founder, died on June 7, 2006. CFO Michael T. Strianese was named as interim CEO, and was later appointed Chairman, President and CEO of the company on October 23, 2006. In 2015, former Lockheed Martin executive Christopher E. Kubasik was named President and COO, with Strianese remaining as Chairman and CEO. On July 19, 2017, Strianese announced that he would retire as CEO on December 31, 2017, to be succeeded by Kubasik, but would remain as board chairman.

L3 Technologies was originally named L-3 Communications for the last initials of its founders Frank Lanza, Robert LaPenta, and Lehman Brothers. Despite the similarity in naming, there is no corporate connection between L3 Technologies, formerly known as L-3 Communications, and networking provider Level 3 Communications, whose name is often abbreviated "L3" in informal industry communication.

On December 31, 2016, L3's company name changed from L-3 Communications Holdings, Inc. to L3 Technologies, Inc. to better reflect the company's wider focus since its founding in 1997. The company's website changed from L-3com.com to L3T.com, but the company's NYSE ticker symbol of LLL remained the same.

In 2010 it was announced that L3's Special Support Programs Division had been suspended by the United States Air Force from doing any contract work for the US federal government. A US Department of Defense investigation had reportedly found that the company had, "used a highly sensitive government computer network to collect competitive business information for its own use." A US federal criminal investigation ended the temporary suspension on July 27, 2010.

On November 4, 2010 L3 issued a part purge notification to prevent future use of Chinese counterfeit parts, but did not notify its customers whose display systems suffered from much higher than expected failure rates.

In 2015, L3 Technologies agreed to pay $25.6 million to settle a lawsuit with the U.S. Government. L3 was accused of knowingly providing the U.S. military with optics that failed in extreme temperatures and humid weather conditions. These sights were provided to infantry and special operations forces operating in Afghanistan and Iraq, as well as civilians and law enforcement.

The civil fraud lawsuit was filed by Preet Bharara, in the Southern District of New York. The lawsuit alleged L3 officials have known since 2006 that the holographic sights being sent to Iraq and Afghanistan failed to perform as advertised in extreme temperature ranges. The lawsuit alleges that the FBI independently discovered the thermal drift defect in March 2015 and presented EOTech with "the very same findings that the company had documented internally for years. Shortly thereafter, EOTech finally disclosed the thermal drift defect to DoD." According to court documents, EOTech had advertised that its sights performed in temperatures ranging from -40 degrees to 140 degrees Fahrenheit, and in humid conditions.

In temperature extremes the sights exhibited thermal drift, which is when the sight's point of aim differed from its point of impact.

The sights also suffered from reticle fading and parallax.

Coordinates: 40°44′57″N 73°58′33″W / 40.7492°N 73.9757°W / 40.7492; -73.9757

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2019 2022-09-09 0.00 0.00
Q1 2019 2019-05-01 2.89 2.71
Q4 2018 2019-01-29 3.10 2.83
Q3 2018 2018-10-25 2.85 2.54

Ratings

2016-07-11 Reiterated Rating Jefferies Group Hold
2016-06-13 Reiterated Rating Deutsche Bank Buy $150.00 to $160.00
2016-06-13 Reiterated Rating Deutsche Bank AG Buy $150.00 to $160.00
2016-06-07 Initiated Coverage Credit Suisse Buy $155.00 to $169.00
2016-06-07 Initiated Coverage Credit Suisse Group AG Buy $155.00 to $169.00
2016-05-26 Upgrade RBC Capital Sector Perform to Outperform $150.00
2016-05-26 Upgrade Drexel Hamilton Hold to Buy $152.00
2016-05-26 Upgrade Royal Bank Of Canada Sector Perform to Outperform $150.00
2016-05-20 Upgrade Drexel Hamilton Hold to Buy $152.00
2016-05-19 Upgrade RBC Capital Sector Perform to Outperform $137.00 to $150.00
2016-05-02 Upgrade Goldman Sachs Neutral to Buy $138.00 to $156.00
2016-05-02 Boost Price Target Barclays Equal Weight $126.00 to $133.00
2016-05-02 Boost Price Target Barclays PLC Equal Weight $126.00 to $133.00
2016-05-02 Upgrade Goldman Sachs Group Inc. Neutral to Buy $138.00 to $156.00
2016-04-28 Reiterated Rating Credit Suisse Buy $155.00
2016-04-28 Reiterated Rating RBC Capital Sector Perform $135.00 to $137.00
2016-04-12 Boost Price Target Goldman Sachs Neutral $131.00 to $138.00
2016-04-10 Reiterated Rating Deutsche Bank Buy $146.00
2016-02-26 Boost Price Target Goldman Sachs $125.00 to $131.00
2016-02-16 Boost Price Target Barclays Equal Weight $123.00 to $126.00
2016-02-02 Reiterated Rating Deutsche Bank Buy
2016-02-01 Upgrade Bank of America Underperform to Buy $135.00
2016-02-01 Upgrade Bank of America Corp. Underperform to Buy $135.00
2016-01-19 Reiterated Rating Credit Suisse Outperform
2015-12-30 Reiterated Rating Jefferies Group Hold $125.00
2015-12-10 Reiterated Rating RBC Capital Hold
2015-12-09 Lower Price Target RBC Capital Sector Perform $131.00 to $129.00
2015-12-03 Reiterated Rating Jefferies Group Hold $115.00 to $124.00
2015-11-02 Reiterated Rating JPMorgan Chase & Co. Neutral $123.00 to $130.00
2015-10-30 Downgrade Cowen and Company Outperform to Market Perform $146.00 to $125.00
2015-10-29 Reiterated Rating RBC Capital Hold $131.00
2015-10-12 Reiterated Rating Barclays Hold
2015-09-08 Downgrade Goldman Sachs Buy to Neutral $129.00 to $116.00
2015-08-02 Reiterated Rating RBC Capital Hold
2015-07-31 Reiterated Rating Deutsche Bank Buy $145.00 to $135.00
2015-07-31 Lower Price Target RBC Capital Sector Perform $128.00 to $121.00
2015-07-30 Downgrade Bank of America Neutral to Underperform $115.00
2015-07-14 Initiated Coverage JPMorgan Chase & Co. Neutral $132.00
2015-06-05 Reiterated Rating Deutsche Bank Buy $145.00
2015-05-09 Reiterated Rating RBC Capital Sector Perform $136.00 to $128.00
2015-03-19 Reiterated Rating Deutsche Bank Buy $139.00 to $145.00
2015-03-10 Initiated Coverage Buckingham Research Buy $155.00 to $155.00
2015-02-12 Boost Price Target Barclays Neutral to Equal Weight $121.00 to $128.00
2015-02-02 Reiterated Rating Jefferies Group Hold $115.00 to $124.00
2015-01-20 Lower Price Target Barclays Equal Weight $123.00 to $121.00
2015-01-14 Initiated Coverage Stifel Nicolaus Hold
2015-01-05 Boost Price Target Deutsche Bank Buy $131.00 to $139.00
2014-10-31 Reiterated Rating Oppenheimer Outperform $128.00 to $130.00
2014-10-31 Reiterated Rating Credit Suisse Outperform $131.00 to $140.00
2014-10-31 Reiterated Rating Oppenheimer Holdings Inc. Outperform $128.00 to $130.00
2014-10-13 Upgrade CRT Capital Sell to Fair Value $90.00 to $115.00
2014-09-08 Upgrade Oppenheimer Market Perform to Outperform $128.00
2014-09-02 Boost Price Target RBC Capital $5.00 to $118.00
2014-08-11 Reiterated Rating Barclays Equal Weight $124.00 to $116.00
2014-08-01 Lower Price Target RBC Capital $123.00 to $113.00
2014-08-01 Boost Price Target JPMorgan Chase & Co. Overweight $135.00 to $140.00
2014-07-31 Downgrade CRT Capital Fair Value to Sell $102.00 to $90.00
2014-07-31 Downgrade Drexel Hamilton Buy to Hold
2014-07-09 Reiterated Rating Deutsche Bank Buy $130.00 to $131.00
2014-05-16 Upgrade Credit Suisse Neutral to Outperform $122.00 to $145.00
2014-05-15 Upgrade Bank of America Underperform to Buy $117.00 to $146.00
2014-05-05 Upgrade JPMorgan Chase & Co. Neutral to Overweight $124.00 to $135.00
2014-05-02 Reiterated Rating Credit Suisse Neutral $122.00
2014-05-02 Lower Price Target RBC Capital $127.00 to $123.00
2014-05-02 Boost Price Target Jefferies Group $107.00 to $115.00
2014-04-07 Boost Price Target Deutsche Bank Buy $125.00 to $130.00
2014-03-26 Boost Price Target RBC Capital Sector Perform $120.00 to $127.00
2014-03-18 Upgrade RBC Capital Underperform to Sector Perform $107.00 to $120.00
2014-03-17 Boost Price Target Barclays Equal Weight $120.00 to $124.00
2014-03-04 Boost Price Target Cowen and Company $130.00 to $135.00
2014-02-07 Upgrade Cowen and Company Market Perform to Outperform $118.00 to $130.00
2014-02-05 Boost Price Target Barclays Equal Weight $110.00 to $120.00
2014-02-03 Boost Price Target JPMorgan Chase & Co. $117.00 to $124.00
2014-01-31 Boost Price Target Credit Suisse $97.00 to $107.00
2014-01-31 Boost Price Target RBC Capital $103.00 to $107.00
2014-01-09 Upgrade JPMorgan Chase & Co. Underweight to Neutral
2014-01-07 Downgrade Bank of America Neutral to Underperform $106.00
2013-11-06 Boost Price Target Drexel Hamilton Hold to Buy $98.00 to $115.00
2013-11-04 Boost Price Target Barclays Equal Weight $97.00 to $110.00
2013-10-30 Boost Price Target RBC Capital Underperform $83.00 to $97.00
2013-10-30 Boost Price Target JPMorgan Chase & Co. Underweight $90.00 to $95.00
2013-10-30 Boost Price Target Jefferies Group Hold $90.00 to $100.00
2013-10-30 Boost Price Target Cowen and Company Market Perform $99.00 to $110.00
2013-10-30 Boost Price Target Credit Suisse $97.00
2013-10-14 Boost Price Target Barclays Equal Weight $95.00 to $97.00
2013-09-25 Reiterated Rating Deutsche Bank Buy $102.00 to $105.00
2012-08-20 Downgrade BB&T Capital Mkts Hold to Underweight
2012-05-29 Upgrade Oppenheimer Underperform to Perform
2011-03-28 Downgrade Oppenheimer Perform to Underperform $85 to $83
2011-03-15 Downgrade Stifel Nicolaus Buy to Hold
2011-02-23 Upgrade Argus Sell to Hold
2011-01-31 Reiterated Oppenheimer Perform $80 to $85
2016-07-11 Reiterated Rating Jefferies Group Hold
2016-06-13 Reiterated Rating Deutsche Bank Buy $150.00 to $160.00
2016-06-13 Reiterated Rating Deutsche Bank AG Buy $150.00 to $160.00
2016-06-07 Initiated Coverage Credit Suisse Buy $155.00 to $169.00
2016-06-07 Initiated Coverage Credit Suisse Group AG Buy $155.00 to $169.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
MILLARD ROBERT B 0.30%  (254886) EVR / LLL /
STRIANESE MICHAEL T See Remarks 0.15%  (131822) LLL /
Brunson Curtis See Remarks 0.09%  (78686) LLL /
Dambrosio Ralph SVP & Chief Financial Officer 0.05%  (43710) LLL /
Kantor Steven See Remarks 0.04%  (35016) LLL /
WASHKOWITZ ALAN H 0.04%  (34679) BTU / LLL /
Mega John S See Remarks 0.02%  (17476) LLL /
Post Steven M See Remarks 0.02%  (15971) LLL /
CANIZARES CLAUDE R 0.02%  (15944) LLL /
Rose Leslie See Remarks 0.02%  (14122) LLL /
CORCORAN THOMAS A 0.02%  (13733) GY / LB / LLL /
McNellis John See Remarks 0.01%  (12662) LLL /
Azmon Dan See Remarks 0.01%  (12489) LLL /
Kramer Lewis 0.01%  (12155) LLL / LVS /
SIMON ARTHUR L 0.01%  (11231) LLL / LORL /
White John P 0.01%  (8909) LLL /
SHELTON GENERAL HENRY HUGH 0.01%  (8301) LLL / RHT /
Von Schwarz Mark See Remarks 0.01%  (7236) LLL /
Dunwoody Ann E. 0.01%  (7103) KFRC / LLL / RSG /
NEWTON LLOYD W 0.01%  (6080) LLL / SON / TMK /
PAGANO VINCENT JR 0.01%  (5365) CQP / HOV / LLL /
Cody Richard A. See Remarks 0.01%  (4434) LLL /