LPL Financial LLC Reduces Holdings in Leidos Holdings, Inc. (NYSE:LDOS)

Key Points

• LPL Financial LLC has reduced its holdings in Leidos Holdings, Inc. by 12.6% during the 1st quarter, selling 13,861 shares and retaining a total of 95,988 shares valued at approximately $12.95 million.
• Significant increases in holdings were reported by several other institutional investors, with Pacer Advisors Inc. boosting its stake by 3,450% during the same period.
• Leidos announced a quarterly dividend of $0.40 per share, payable on September 30th, translating to an annualized yield of 0.9% based on its current price.

LPL Financial LLC decreased its position in shares of Leidos Holdings, Inc. (NYSE:LDOS - Free Report) by 12.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,988 shares of the aerospace company's stock after selling 13,861 shares during the period. LPL Financial LLC owned about 0.07% of Leidos worth $12,953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in 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 acquiring an additional 684,272 shares in the last quarter. Invesco Ltd. grew its holdings in Leidos by 35.0% during the 4th quarter. Invesco Ltd. now owns 2,630,448 shares of the aerospace company's stock worth $378,942,000 after acquiring an additional 682,532 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Leidos by 29.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,336,222 shares of the aerospace company's stock worth $315,250,000 after acquiring an additional 536,452 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Leidos by 130.3% during the 1st quarter. Victory Capital Management Inc. now owns 711,437 shares of the aerospace company's stock worth $96,001,000 after acquiring an additional 402,454 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Leidos by 262.9% during the 1st quarter. Allianz Asset Management GmbH now owns 459,501 shares of the aerospace company's stock worth $62,005,000 after acquiring an additional 332,882 shares in the last quarter. Hedge funds and other institutional investors own 76.12% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Baird R W lowered shares of Leidos from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 27th. Truist Financial decreased their price target on shares of Leidos from $165.00 to $155.00 and set a "buy" rating for the company in a report on Monday, April 14th. Citigroup reaffirmed a "buy" rating and issued a $190.00 price target (up from $186.00) on shares of Leidos in a report on Monday, July 14th. Royal Bank Of Canada lifted their price target on shares of Leidos from $150.00 to $160.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $178.00 price target on shares of Leidos and gave the company a "buy" rating in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $179.46.

Leidos Trading Up 0.5%

Leidos stock opened at $175.31 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.62 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $157.06 and a two-hundred day moving average price of $146.99. The firm has a market capitalization of $22.49 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.99 and a beta of 0.65. Leidos Holdings, Inc. has a 52-week low of $123.62 and a 52-week high of $202.90.

Leidos (NYSE:LDOS - Get Free Report) last posted its earnings results on Tuesday, August 5th. The aerospace company reported $3.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.58. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.24 billion. Leidos had a net margin of 8.22% and a return on equity of 33.57%. Leidos's revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.63 EPS. Sell-side analysts expect that Leidos Holdings, Inc. will post 10.62 earnings per share for the current year.

Leidos Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, September 15th. Leidos's payout ratio is 16.10%.

About Leidos

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.

Want to see what other hedge funds are holding LDOS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leidos Holdings, Inc. (NYSE:LDOS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.