Red Wave Investments LLC Buys New Position in Leidos Holdings, Inc. (NYSE:LDOS)

Red Wave Investments LLC bought a new stake in shares of Leidos Holdings, Inc. (NYSE:LDOS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,001 shares of the aerospace company’s stock, valued at approximately $217,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Leidos in the 4th quarter valued at about $18,976,000. Raymond James & Associates lifted its stake in Leidos by 18.6% during the fourth quarter. Raymond James & Associates now owns 245,665 shares of the aerospace company’s stock worth $26,591,000 after purchasing an additional 38,496 shares during the last quarter. Northern Trust Corp lifted its stake in Leidos by 7.8% during the third quarter. Northern Trust Corp now owns 1,143,664 shares of the aerospace company’s stock worth $105,400,000 after purchasing an additional 82,447 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Leidos by 134.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 14,114 shares of the aerospace company’s stock worth $1,301,000 after purchasing an additional 8,106 shares during the last quarter. Finally, Creative Planning increased its position in Leidos by 15.6% during the third quarter. Creative Planning now owns 95,319 shares of the aerospace company’s stock worth $8,785,000 after buying an additional 12,839 shares during the period. 76.12% of the stock is currently owned by hedge funds and other institutional investors.

Leidos Stock Performance

Leidos stock opened at $131.48 on Monday. The firm has a market capitalization of $17.77 billion, a P/E ratio of 91.80, a PEG ratio of 1.80 and a beta of 0.70. The stock has a fifty day moving average price of $127.59 and a 200 day moving average price of $113.95. Leidos Holdings, Inc. has a 52 week low of $76.58 and a 52 week high of $131.50. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.10.

Leidos (NYSE:LDOS) last released its earnings results on Tuesday, February 13th. The aerospace company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. The firm had revenue of $3.98 billion during the quarter, compared to analyst estimates of $3.81 billion. Leidos had a return on equity of 22.92% and a net margin of 1.29%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 earnings per share. Equities research analysts anticipate that Leidos Holdings, Inc. will post 7.77 earnings per share for the current year.

Leidos Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.16%. Leidos’s dividend payout ratio is presently 107.04%.

Insiders Place Their Bets

In other Leidos news, Director David G. Fubini sold 7,874 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $127.89, for a total transaction of $1,007,005.86. Following the completion of the sale, the director now directly owns 14,696 shares in the company, valued at $1,879,471.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Leidos news, Director Gary Stephen May sold 2,745 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $124.49, for a total transaction of $341,725.05. Following the completion of the sale, the director now directly owns 11,352 shares in the company, valued at $1,413,210.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David G. Fubini sold 7,874 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $127.89, for a total value of $1,007,005.86. Following the completion of the sale, the director now owns 14,696 shares of the company’s stock, valued at approximately $1,879,471.44. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LDOS. Wells Fargo & Company boosted their target price on Leidos from $137.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Truist Financial boosted their target price on Leidos from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Robert W. Baird boosted their target price on Leidos from $133.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Bank of America boosted their target price on Leidos from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, Jefferies Financial Group upped their price objective on Leidos from $130.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Leidos currently has an average rating of “Moderate Buy” and an average target price of $132.42.

Leidos Company 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.