Tower Bridge Advisors reduced its stake in Leidos Holdings, Inc. (NYSE:LDOS) by 1.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 215,326 shares of the aerospace company’s stock after selling 2,123 shares during the quarter. Leidos accounts for approximately 1.6% of Tower Bridge Advisors’ portfolio, making the stock its 14th biggest position. Tower Bridge Advisors’ holdings in Leidos were worth $20,732,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LDOS. Vectors Research Management LLC purchased a new stake in shares of Leidos during the 4th quarter valued at $26,000. Meeder Asset Management Inc. increased its position in shares of Leidos by 118.4% during the 1st quarter. Meeder Asset Management Inc. now owns 308 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 167 shares during the last quarter. NuWave Investment Management LLC purchased a new stake in shares of Leidos during the 1st quarter valued at $33,000. Childress Capital Advisors LLC purchased a new stake in shares of Leidos during the 4th quarter valued at $35,000. Finally, Cowa LLC purchased a new stake in shares of Leidos during the 4th quarter valued at $39,000. 76.32% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised Leidos from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday. Morgan Stanley lifted their price objective on Leidos from $105.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday. Credit Suisse Group decreased their price objective on Leidos from $137.00 to $118.00 and set an “outperform” rating for the company in a report on Wednesday, February 24th. Bank of America lifted their price objective on Leidos from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, March 3rd. Finally, Citigroup initiated coverage on Leidos in a report on Thursday, May 20th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Leidos has a consensus rating of “Buy” and an average target price of $116.38.
Leidos (NYSE:LDOS) last issued its quarterly earnings results on Tuesday, May 4th. The aerospace company reported $1.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.25. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.25 billion. Leidos had a return on equity of 24.30% and a net margin of 5.64%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the company posted $1.19 EPS. Analysts expect that Leidos Holdings, Inc. will post 6.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, June 14th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.28%. Leidos’s dividend payout ratio (DPR) is presently 23.33%.
In related news, Director Gary Stephen May sold 500 shares of the firm’s stock in a transaction dated Thursday, May 13th. The stock was sold at an average price of $102.69, for a total transaction of $51,345.00. Following the transaction, the director now directly owns 9,172 shares of the company’s stock, valued at approximately $941,872.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.57% of the company’s stock.
Leidos Holdings, Inc provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. It 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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