Leidos Holdings, Inc. $LDOS Stock Position Reduced by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. reduced its Leidos stake by 14.3% in the third quarter, selling 8,545 shares and retaining 51,244 shares valued at approximately $6.24 million. Institutional investors collectively own 76.12% of LDOS.
• Leidos reported quarterly EPS of $3.26, beating estimates of $2.91, while revenue rose 7.2% year over year to $4.56 billion. The board also authorized a buyback of up to 20 million shares.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $156.14 price target; several firms recently lowered targets or downgraded the stock. Two directors also sold shares, while the company continues paying a $0.43 quarterly dividend.

First Citizens Bank & Trust Co. lessened its stake in shares of Leidos Holdings, Inc. (NYSE:LDOS - Free Report) by 14.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,244 shares of the aerospace company's stock after selling 8,545 shares during the period. First Citizens Bank & Trust Co.'s holdings in Leidos were worth $6,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Longview Financial Advisors Inc. purchased a new position in Leidos during the 1st quarter valued at approximately $26,000. Kelleher Financial Advisors purchased a new stake in shares of Leidos during the 2nd quarter worth approximately $28,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Leidos during the 2nd quarter worth approximately $41,000. Western Wealth Management LLC bought a new position in shares of Leidos during the 1st quarter valued at approximately $42,000. Finally, Cedar Mountain Advisors LLC boosted its position in shares of Leidos by 5,620.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 286 shares of the aerospace company's stock valued at $44,000 after acquiring an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 76.12% of the company's stock.

Insider Transactions at Leidos

In related news, Director Gary May sold 1,000 shares of the 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 sale, the director directly owned 10,204 shares of the company's stock, valued at $1,437,233.40. This represents a 8.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Noel B. Geer sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $140.66, for a total transaction of $1,406,600.00. Following the completion of the sale, the director directly owned 34,274 shares of the company's stock, valued at approximately $4,820,980.84. The trade was a 22.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is currently owned by insiders.

Leidos Stock Performance

NYSE:LDOS opened at $120.25 on Thursday. The stock's fifty day moving average is $130.95 and its 200 day moving average is $128.36. Leidos Holdings, Inc. has a fifty-two week low of $98.86 and a fifty-two week high of $205.77. The firm has a market capitalization of $15.09 billion, a PE ratio of 9.81, a PEG ratio of 1.33 and a beta of 0.58. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.60 and a current ratio of 1.63.

Leidos (NYSE:LDOS - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.91 by $0.35. Leidos had a return on equity of 30.81% and a net margin of 7.80%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the company earned $3.21 earnings per share. Leidos's revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Leidos Holdings, Inc. will post 12.39 earnings per share for the current year.

Leidos announced that its Board of Directors has initiated a share buyback program on Friday, July 31st that allows the company to repurchase 20,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Share buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Leidos Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.4%. Leidos's payout ratio is currently 16.04%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LDOS shares. The Goldman Sachs Group cut their target price on shares of Leidos from $152.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, August 12th. Wells Fargo & Company set a $165.00 price target on shares of Leidos in a research note on Monday, August 17th. Wall Street Zen upgraded shares of Leidos from a "hold" rating to a "buy" rating in a research report on Thursday, July 16th. UBS Group lifted their price objective on shares of Leidos from $124.00 to $138.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. cut shares of Leidos from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $160.00 to $142.00 in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Leidos presently has a consensus rating of "Hold" and a consensus price target of $156.14.

Leidos Company Profile

Leidos Holdings, Inc is a technology, engineering and services company that provides solutions to government and commercial customers. The company operates primarily in the defense, intelligence, civil and health markets, supporting customers with mission-critical systems, digital modernization, cybersecurity, data analytics and technical services.

Its offerings include defense and intelligence technologies, command-and-control systems, transportation and infrastructure solutions, health information technology, aviation and security services, and scientific and engineering support.

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