Corebridge Financial Inc. Sells 1,640 Shares of Leidos Holdings, Inc. $LDOS

Key Points

• Corebridge Financial Inc. has reduced its stake in Leidos Holdings, Inc. by 5.0%, now owning 31,108 shares worth approximately $4.2 million.
• Leidos reported earnings of $3.21 EPS for the last quarter, surpassing expectations, with a revenue of $4.25 billion, reflecting a 2.9% year-over-year increase.
• The company announced a quarterly dividend of $0.40 per share, giving a yield of 0.9%, with the dividend payout ratio at 15.12%.

Corebridge Financial Inc. reduced its holdings in Leidos Holdings, Inc. (NYSE:LDOS - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,108 shares of the aerospace company's stock after selling 1,640 shares during the period. Corebridge Financial Inc.'s holdings in Leidos were worth $4,198,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LDOS. Pacer Advisors Inc. raised its stake in shares of Leidos by 3,450.0% during the 1st quarter. Pacer Advisors Inc. now owns 704,106 shares of the aerospace company's stock worth $95,012,000 after purchasing an additional 684,272 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Leidos by 29.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,336,222 shares of the aerospace company's stock valued at $315,250,000 after acquiring an additional 536,452 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Leidos by 130.3% in the 1st quarter. Victory Capital Management Inc. now owns 711,437 shares of the aerospace company's stock valued at $96,001,000 after acquiring an additional 402,454 shares in the last quarter. Nuveen LLC bought a new position in shares of Leidos in the 1st quarter valued at approximately $45,665,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Leidos by 262.9% in the 1st quarter. Allianz Asset Management GmbH now owns 459,501 shares of the aerospace company's stock valued at $62,005,000 after acquiring an additional 332,882 shares in the last quarter. 76.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on LDOS. Robert W. Baird lowered Leidos from an "outperform" rating to a "neutral" rating and set a $163.00 target price on the stock. in a report on Tuesday, May 27th. Wall Street Zen lowered Leidos from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada set a $210.00 price objective on Leidos and gave the stock an "outperform" rating in a report on Wednesday. UBS Group raised their target price on Leidos from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Stifel Nicolaus set a $178.00 target price on Leidos and gave the stock a "buy" rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $183.31.

Insider Transactions at Leidos

In other news, Director Gregory R. Dahlberg sold 952 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $177.43, for a total transaction of $168,913.36. Following the completion of the sale, the director owned 21,068 shares in the company, valued at $3,738,095.24. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary Stephen May sold 2,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $178.05, for a total value of $356,100.00. Following the sale, the director owned 10,137 shares of the company's stock, valued at approximately $1,804,892.85. The trade was a 16.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,478 shares of company stock worth $1,852,525 over the last 90 days. 0.69% of the stock is owned by insiders.

Leidos Price Performance

LDOS traded up $0.10 during trading on Thursday, hitting $177.81. The company's stock had a trading volume of 513,630 shares, compared to its average volume of 1,321,257. The firm's 50 day moving average price is $169.26 and its two-hundred day moving average price is $151.81. The company has a quick ratio of 1.50, a current ratio of 1.62 and a debt-to-equity ratio of 1.06. Leidos Holdings, Inc. has a 12 month low of $123.62 and a 12 month high of $202.90. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.07 and a beta of 0.71.

Leidos (NYSE:LDOS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The aerospace company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.58. Leidos had a return on equity of 33.57% and a net margin of 8.22%.The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the company posted $2.63 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. Leidos has set its FY 2025 guidance at 11.150-11.450 EPS. Sell-side analysts forecast that Leidos Holdings, Inc. will post 10.62 earnings per share for the current fiscal year.

Leidos Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, September 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Leidos's payout ratio is presently 15.12%.

Leidos Company 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.