Mirae Asset Global Investments Co. Ltd. Purchases New Stake in Leidos Holdings, Inc. $LDOS

Mirae Asset Global Investments Co. Ltd. acquired a new position in Leidos Holdings, Inc. (NYSE:LDOS) in the third quarter, HoldingsChannel reports. The firm acquired 33,455 shares of the aerospace company’s stock, valued at approximately $4,076,000.

A number of other institutional investors also recently made changes to their positions in LDOS. Kelleher Financial Advisors bought a new position in shares of Leidos during the 2nd quarter valued at $28,000. N.E.W. Advisory Services LLC purchased a new stake in Leidos during the second quarter valued at about $41,000. Western Wealth Management LLC purchased a new stake in Leidos during the first quarter valued at about $42,000. Cedar Mountain Advisors LLC grew its stake in shares of Leidos by 5,620.0% during the first quarter. Cedar Mountain Advisors LLC now owns 286 shares of the aerospace company’s stock valued at $44,000 after buying an additional 281 shares during the last quarter. Finally, Fortitude Family Office LLC grew its stake in shares of Leidos by 273.7% during the third quarter. Fortitude Family Office LLC now owns 370 shares of the aerospace company’s stock valued at $45,000 after buying an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 76.12% of the company’s stock.

Leidos Trading Down 2.2%

LDOS traded down $2.92 during trading on Friday, hitting $132.89. 841,853 shares of the stock traded hands, compared to its average volume of 972,757. The firm has a market capitalization of $16.68 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.60 and a beta of 0.55. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.60. The firm has a 50-day moving average of $129.14 and a 200 day moving average of $140.19. Leidos Holdings, Inc. has a 12-month low of $98.86 and a 12-month high of $205.00.

Leidos (NYSE:LDOS) last announced its quarterly earnings results on Tuesday, November 3rd. The aerospace company reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.58. Leidos had a net margin of 7.80% and a return on equity of 30.81%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter last year, the firm earned $3.05 EPS. The company’s revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that Leidos Holdings, Inc. will post 12.62 EPS for the current year.

Leidos declared that its board has initiated a stock buyback plan on Friday, July 31st that allows the company to buy back 20,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Share buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Leidos Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This is a boost from Leidos’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 1.4%. Leidos’s payout ratio is 15.38%.

Insider Activity

In other Leidos news, Director Gary May sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $140.85, for a total transaction of $140,850.00. Following the completion of the transaction, the director 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 at the SEC website. Also, Director Noel B. Geer sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $140.66, for a total value of $1,406,600.00. Following the transaction, the director directly owned 34,274 shares of the company’s stock, valued at $4,820,980.84. The trade was a 22.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LDOS shares. Royal Bank Of Canada decreased their price objective on Leidos from $180.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. JPMorgan Chase & Co. cut Leidos from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $142.00 in a report on Thursday, October 8th. The Goldman Sachs Group reduced their price target on Leidos from $152.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Wells Fargo & Company set a $165.00 price target on Leidos in a research report on Monday, August 17th. Finally, TD Cowen decreased their price target on Leidos from $135.00 to $130.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $151.50.

Leidos Company Profile

Leidos Holdings, Inc (NYSE: LDOS) is a technology, engineering and science company that provides services and solutions to government and commercial customers. Its work supports defense, intelligence, civil government, health and transportation missions, with offerings that include information technology modernization, systems integration, cybersecurity, data analytics, artificial intelligence, engineering and mission operations.

The company also provides health technology and scientific services, transportation management systems, aviation and security solutions, and support for complex government programs.