64,674 Leidos Holdings, Inc. $LDOS Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC lowered its holdings in Leidos Holdings, Inc. (NYSE:LDOS) by 90.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,797 shares of the aerospace company’s stock after selling 64,674 shares during the quarter. Renaissance Investment Group LLC’s holdings in Leidos were worth $828,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Leidos in the 2nd quarter valued at about $1,024,436,000. State Street Corp boosted its holdings in Leidos by 2.6% during the second quarter. State Street Corp now owns 6,277,845 shares of the aerospace company’s stock worth $646,430,000 after buying an additional 161,407 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Leidos by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,859,616 shares of the aerospace company’s stock worth $289,193,000 after buying an additional 47,542 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Leidos by 16.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,004,347 shares of the aerospace company’s stock worth $103,418,000 after buying an additional 144,716 shares during the period. Finally, Pacer Advisors Inc. grew its position in Leidos by 30.5% during the first quarter. Pacer Advisors Inc. now owns 567,601 shares of the aerospace company’s stock worth $88,273,000 after buying an additional 132,683 shares during the period. 76.12% of the stock is currently owned by hedge funds and other institutional investors.

Leidos Price Performance

Leidos stock opened at $142.81 on Friday. The firm has a market capitalization of $17.92 billion, a PE ratio of 13.32, a P/E/G ratio of 1.57 and a beta of 0.58. Leidos Holdings, Inc. has a 52 week low of $98.86 and a 52 week high of $205.77. The firm’s 50-day simple moving average is $129.33 and its 200 day simple moving average is $141.60. The company has a quick ratio of 1.60, a current ratio of 1.63 and a debt-to-equity ratio of 1.13.

Leidos (NYSE:LDOS) last posted its earnings results on Monday, August 3rd. The aerospace company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.35. Leidos had a net margin of 7.80% and a return on equity of 30.81%. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the firm posted $3.21 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Leidos Holdings, Inc. will post 12.38 EPS for the current fiscal year.

Leidos declared that its board has authorized a stock repurchase program on Friday, July 31st that authorizes the company to repurchase 20,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Share buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

LDOS has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Leidos from a “hold” rating to a “buy” rating in a report on Thursday, July 16th. Bank of America boosted their price target on Leidos from $125.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 18th. UBS Group boosted their price target on Leidos from $124.00 to $138.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Jefferies Financial Group lowered their price target on Leidos from $145.00 to $130.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Finally, TD Cowen dropped their price objective on Leidos from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Leidos currently has a consensus rating of “Hold” and a consensus price target of $150.85.

Insider Activity

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

About Leidos

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.