Hennessy Advisors Inc. trimmed its holdings in Leidos Holdings, Inc. (NYSE:LDOS – Free Report) by 2.9% in the third quarter, Holdings Channel.com reports. The fund owned 210,800 shares of the aerospace company’s stock after selling 6,300 shares during the period. Leidos comprises 0.9% of Hennessy Advisors Inc.’s portfolio, making the stock its 29th biggest holding. Hennessy Advisors Inc.’s holdings in Leidos were worth $25,682,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of LDOS. Renaissance Technologies LLC purchased a new position in shares of Leidos in the first quarter worth approximately $20,225,000. Empowered Funds LLC boosted its holdings in shares of Leidos by 169.0% during the first quarter. Empowered Funds LLC now owns 144,847 shares of the aerospace company’s stock worth $22,527,000 after purchasing an additional 90,991 shares during the period. BlackRock Inc. purchased a new position in shares of Leidos during the 2nd quarter valued at $1,024,436,000. Insight Wealth Strategies LLC grew its stake in Leidos by 55.1% in the second quarter. Insight Wealth Strategies LLC now owns 42,747 shares of the aerospace company’s stock valued at $4,406,000 after purchasing an additional 15,192 shares in the last quarter. Finally, Amundi increased its holdings in Leidos by 9.3% in the second quarter. Amundi now owns 165,512 shares of the aerospace company’s stock worth $17,043,000 after buying an additional 14,049 shares during the last quarter. 76.12% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on LDOS. The Goldman Sachs Group cut their target price on Leidos from $152.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Leidos from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 22nd. TD Cowen cut their target price on Leidos from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday, October 6th. Wall Street Zen upgraded shares of Leidos from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th. Finally, Wells Fargo & Company set a $165.00 target price on shares of Leidos in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Leidos presently has an average rating of “Hold” and a consensus target price of $150.85.
Get Our Latest Research Report on LDOS
Insider Activity
In related news, Director Noel B. Geer sold 10,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $140.66, for a total transaction of $1,406,600.00. Following the completion of the transaction, the director owned 34,274 shares in the company, valued at approximately $4,820,980.84. This represents a 22.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary May sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $140.85, for a total value of $140,850.00. Following the completion of the transaction, the director owned 10,204 shares of the company’s stock, valued at $1,437,233.40. The trade was a 8.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.77% of the company’s stock.
Leidos Stock Down 0.1%
NYSE:LDOS opened at $142.81 on Monday. Leidos Holdings, Inc. has a 12-month low of $98.86 and a 12-month high of $205.77. The company has a quick ratio of 1.60, a current ratio of 1.63 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $17.92 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.59 and a beta of 0.55. The stock’s fifty day simple moving average is $129.33 and its 200-day simple moving average is $141.60.
Leidos (NYSE:LDOS – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The aerospace company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.35. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Leidos had a net margin of 7.80% and a return on equity of 30.81%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 EPS. Equities research analysts expect that Leidos Holdings, Inc. will post 12.38 earnings per share for the current year.
Leidos Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, December 15th. This is a positive change from Leidos’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.3%. Leidos’s dividend payout ratio (DPR) is 16.04%.
Leidos declared that its board has authorized a stock repurchase program on Friday, July 31st that permits the company to buy back 20,000,000 shares. This buyback authorization permits the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Leidos Profile
Leidos Holdings, Inc (NYSE: LDOS) is a technology, engineering and science company that provides services and solutions to government and commercial customers. Its work supports defense, intelligence, civil government, health and transportation missions, with offerings that include information technology modernization, systems integration, cybersecurity, data analytics, artificial intelligence, engineering and mission operations.
The company also provides health technology and scientific services, transportation management systems, aviation and security solutions, and support for complex government programs.
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