PNC Financial Services Group Inc. Raises Stake in Leidos Holdings, Inc. (NYSE:LDOS)

Key Points

• PNC Financial Services Group Inc. increased its stake in Leidos Holdings, Inc. by 15.0% during the first quarter, owning 18,529 shares valued at $2,500,000.
• Leidos reported an EPS of $3.21 for the last quarter, exceeding estimates by $0.58, along with a revenue of $4.25 billion.
• The company announced a quarterly dividend of $0.40, representing an annualized dividend yield of 0.9%.

PNC Financial Services Group Inc. increased its stake in shares of Leidos Holdings, Inc. (NYSE:LDOS - Free Report) by 15.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,529 shares of the aerospace company's stock after purchasing an additional 2,413 shares during the period. PNC Financial Services Group Inc.'s holdings in Leidos were worth $2,500,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in Leidos by 9.1% during the 1st quarter. Parallel Advisors LLC now owns 968 shares of the aerospace company's stock worth $131,000 after purchasing an additional 81 shares in the last quarter. Resolute Wealth Strategies LLC raised its holdings in shares of Leidos by 1.9% in the 1st quarter. Resolute Wealth Strategies LLC now owns 5,134 shares of the aerospace company's stock valued at $693,000 after acquiring an additional 97 shares in the last quarter. Global Financial Private Client LLC raised its holdings in shares of Leidos by 1.4% in the 1st quarter. Global Financial Private Client LLC now owns 7,085 shares of the aerospace company's stock valued at $956,000 after acquiring an additional 100 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Leidos by 9.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,273 shares of the aerospace company's stock valued at $172,000 after acquiring an additional 107 shares in the last quarter. Finally, Syon Capital LLC raised its holdings in shares of Leidos by 7.8% in the 4th quarter. Syon Capital LLC now owns 1,487 shares of the aerospace company's stock valued at $214,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 76.12% of the company's stock.

Leidos Price Performance

Shares of Leidos stock opened at $176.52 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.62 and a quick ratio of 1.42. The business's 50 day simple moving average is $157.62 and its two-hundred day simple moving average is $147.10. The stock has a market capitalization of $22.65 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.00 and a beta of 0.65. Leidos Holdings, Inc. has a one year low of $123.62 and a one year high of $202.90.

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

Leidos Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.40 dividend. 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 dividend payout ratio (DPR) is currently 15.12%.

Wall Street Analyst Weigh In

Several analysts have weighed in on LDOS shares. Baird R W cut Leidos from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 27th. Royal Bank Of Canada raised their price target on Leidos from $150.00 to $160.00 and gave the company a "sector perform" rating in a report on Wednesday, May 7th. Jefferies Financial Group upgraded Leidos from a "hold" rating to a "buy" rating and increased their price objective for the company from $185.00 to $205.00 in a research report on Wednesday. Wells Fargo & Company increased their price objective on Leidos from $173.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Truist Financial reduced their price objective on Leidos from $165.00 to $155.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $179.46.

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.

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