Renaissance Investment Group LLC Raises Position in Leidos Holdings, Inc. (NYSE:LDOS)

13 Oct 2024, 12:10 by Doug Wharley · The Cerbat Gem

Renaissance Investment Group LLC grew its position in Leidos Holdings, Inc. (NYSE:LDOS – Free Report) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 69,352 shares of the aerospace company’s stock after buying an additional 921 shares during the period. Leidos makes up about 2.4% of Renaissance Investment Group LLC’s investment portfolio, making the stock its 18th largest holding. Renaissance Investment Group LLC’s holdings in Leidos were worth $11,304,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Key Financial Inc grew its stake in shares of Leidos by 6.5% in the second quarter. Key Financial Inc now owns 1,141 shares of the aerospace company’s stock worth $166,000 after acquiring an additional 70 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Leidos by 2.9% in the first quarter. Bleakley Financial Group LLC now owns 2,671 shares of the aerospace company’s stock worth $350,000 after acquiring an additional 76 shares during the period. Somerset Trust Co grew its stake in shares of Leidos by 3.5% in the third quarter. Somerset Trust Co now owns 2,429 shares of the aerospace company’s stock worth $396,000 after acquiring an additional 83 shares during the period. Apella Capital LLC grew its stake in shares of Leidos by 0.8% in the third quarter. Apella Capital LLC now owns 11,366 shares of the aerospace company’s stock worth $1,878,000 after acquiring an additional 89 shares during the period. Finally, Fulton Bank N.A. grew its stake in shares of Leidos by 3.2% in the third quarter. Fulton Bank N.A. now owns 3,358 shares of the aerospace company’s stock worth $547,000 after acquiring an additional 105 shares during the period. 76.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on LDOS. Bank of America lifted their price target on shares of Leidos from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Barclays lifted their price target on shares of Leidos from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Truist Financial boosted their target price on shares of Leidos from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. TD Cowen boosted their target price on shares of Leidos from $155.00 to $166.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their target price on shares of Leidos from $172.00 to $183.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $166.92.

Check Out Our Latest Stock Analysis on LDOS

Leidos Stock Performance

LDOS opened at $167.20 on Friday. The firm has a market cap of $22.61 billion, a P/E ratio of 72.07, a PEG ratio of 1.50 and a beta of 0.70. Leidos Holdings, Inc. has a 1-year low of $90.30 and a 1-year high of $168.02. The company has a 50 day simple moving average of $155.38 and a two-hundred day simple moving average of $146.69. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.21 and a quick ratio of 1.11.

Leidos (NYSE:LDOS – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The aerospace company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.36. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.06 billion. Leidos had a net margin of 2.72% and a return on equity of 28.40%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 earnings per share. Equities analysts forecast that Leidos Holdings, Inc. will post 8.95 earnings per share for the current fiscal year.

Leidos Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, September 13th. Leidos’s dividend payout ratio (DPR) is presently 65.52%.

Insider Transactions at Leidos

In other news, Director Robert C. Kovarik, Jr. sold 1,059 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $145.23, for a total value of $153,798.57. Following the transaction, the director now owns 7,455 shares of the company’s stock, valued at approximately $1,082,689.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Leidos news, CEO Thomas Arthur Bell purchased 1,712 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $145.04 per share, with a total value of $248,308.48. Following the completion of the purchase, the chief executive officer now directly owns 22,398 shares in the company, valued at $3,248,605.92. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert C. Kovarik, Jr. sold 1,059 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $145.23, for a total transaction of $153,798.57. Following the sale, the director now directly owns 7,455 shares in the company, valued at approximately $1,082,689.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

About Leidos

(Free Report)