Is there any point in equipping your companions with better armor and weapons?

The reason I ask this, because I have been equipping my companions with legendary items but they seem to be doing the same as they do with their default equipment.....I don't see any noticeable increase in their effectiveness, so now I am wondering whether, if companions actually get any benefit from the better stats on items or the legendary powers if the item has any?

Can anyone confirm this? Or should I just leave my companions in their default gear?

Better armor definitely improves their longevity in a fight. Better guns only make sense if you give them the ammo too. They're not terribly effective in any case. Rather a distraction to take some heat instead of you.

Teamwork is essential in any military operation. It gives the enemy someone besides you to shoot at.