TLP Group LLC lifted its holdings in shares of Leidos Holdings Inc (NYSE:LDOS) by 4,317.2% in the first quarter, HoldingsChannel.com reports. The firm owned 6,935 shares of the aerospace company’s stock after acquiring an additional 6,778 shares during the quarter. TLP Group LLC’s holdings in Leidos were worth $454,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in LDOS. Verition Fund Management LLC lifted its stake in Leidos by 92.7% during the 1st quarter. Verition Fund Management LLC now owns 6,719 shares of the aerospace company’s stock worth $439,000 after acquiring an additional 3,233 shares in the last quarter. Sciencast Management LP acquired a new position in Leidos during the 1st quarter worth about $390,000. Otter Creek Advisors LLC lifted its stake in Leidos by 17.1% during the 1st quarter. Otter Creek Advisors LLC now owns 231,384 shares of the aerospace company’s stock worth $15,132,000 after acquiring an additional 33,825 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in Leidos during the 1st quarter worth about $181,000. Finally, Point72 Asset Management L.P. lifted its stake in Leidos by 46.1% during the 1st quarter. Point72 Asset Management L.P. now owns 560,300 shares of the aerospace company’s stock worth $36,644,000 after acquiring an additional 176,885 shares in the last quarter. Institutional investors and hedge funds own 73.08% of the company’s stock.
LDOS has been the topic of several research reports. Zacks Investment Research raised Leidos from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Wednesday, February 28th. Citigroup increased their target price on Leidos from $71.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. ValuEngine raised Leidos from a “hold” rating to a “buy” rating in a research note on Friday, May 11th. Goldman Sachs Group lowered Leidos from a “conviction-buy” rating to a “buy” rating and set a $82.00 target price on the stock. in a research note on Tuesday, May 8th. Finally, Jefferies Financial Group increased their price target on Leidos from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $73.89.
Leidos (NYSE:LDOS) last posted its quarterly earnings results on Thursday, May 3rd. The aerospace company reported $1.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.03. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.58 billion. Leidos had a return on equity of 17.90% and a net margin of 3.95%. Leidos’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. analysts expect that Leidos Holdings Inc will post 4.38 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, June 14th. Leidos’s dividend payout ratio is currently 34.41%.
Leidos announced that its board has initiated a share repurchase plan on Thursday, February 22nd that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Leidos Holdings, Inc provides services and solutions in the defense, intelligence, civil, and health markets primarily in the United States. The company operates through three segments: Defense Solutions, Civil, and Health. 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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