Renaissance Investment Group LLC Acquires 71 Shares of Leidos Holdings, Inc. (NYSE:LDOS)

Renaissance Investment Group LLC lifted its holdings in Leidos Holdings, Inc. (NYSE:LDOS) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,423 shares of the aerospace company’s stock after acquiring an additional 71 shares during the period. Leidos accounts for about 2.1% of Renaissance Investment Group LLC’s portfolio, making the stock its 20th biggest holding. Renaissance Investment Group LLC’s holdings in Leidos were worth $10,001,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in Leidos by 1.0% in the 3rd quarter. State Street Corp now owns 5,800,357 shares of the aerospace company’s stock worth $945,458,000 after purchasing an additional 56,066 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Leidos by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 3,504,392 shares of the aerospace company’s stock valued at $571,216,000 after buying an additional 405,256 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Leidos by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,365,903 shares of the aerospace company’s stock worth $546,912,000 after buying an additional 42,358 shares in the last quarter. FMR LLC boosted its position in shares of Leidos by 27.8% during the third quarter. FMR LLC now owns 2,405,726 shares of the aerospace company’s stock worth $392,133,000 after acquiring an additional 522,764 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Leidos by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,153,420 shares of the aerospace company’s stock valued at $351,007,000 after acquiring an additional 53,307 shares in the last quarter. Hedge funds and other institutional investors own 76.12% of the company’s stock.

Insider Transactions at Leidos

In other news, Director Noel B. Geer acquired 2,000 shares of Leidos stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $161.13 per share, for a total transaction of $322,260.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $322,260. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Surya N. Mohapatra sold 2,748 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $194.97, for a total value of $535,777.56. Following the completion of the sale, the director now owns 20,001 shares of the company’s stock, valued at $3,899,594.97. This represents a 12.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

Leidos Stock Performance

Shares of NYSE:LDOS opened at $155.19 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.15 and a debt-to-equity ratio of 0.87. Leidos Holdings, Inc. has a 12 month low of $107.73 and a 12 month high of $202.90. The company has a market capitalization of $20.71 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 0.98 and a beta of 0.66. The firm’s 50-day moving average is $157.02 and its 200 day moving average is $158.02.

Leidos (NYSE:LDOS) last released its earnings results on Tuesday, October 29th. The aerospace company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.97. Leidos had a return on equity of 30.31% and a net margin of 7.37%. The firm had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the firm posted $2.03 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Research analysts predict that Leidos Holdings, Inc. will post 10.03 EPS for the current year.

Leidos Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.03%. This is an increase from Leidos’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, December 16th. Leidos’s dividend payout ratio (DPR) is 18.22%.

Analysts Set New Price Targets

Several analysts have commented on LDOS shares. Royal Bank of Canada boosted their price target on shares of Leidos from $145.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. UBS Group initiated coverage on Leidos in a research report on Monday, December 2nd. They issued a “neutral” rating and a $182.00 target price on the stock. Wells Fargo & Company cut their price target on Leidos from $205.00 to $199.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. TD Cowen downgraded Leidos from a “buy” rating to a “hold” rating and lowered their target price for the company from $200.00 to $165.00 in a research report on Wednesday, January 8th. Finally, Truist Financial cut their target price on shares of Leidos from $205.00 to $185.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Leidos currently has a consensus rating of “Moderate Buy” and an average price target of $179.07.

Leidos Profile

Leidos Holdings, Inc, together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. The company operates through Defense Solutions, Civil, and Health segments. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S.