Proffitt & Goodson Inc. trimmed its holdings in Leidos (NYSE:LDOS) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,419 shares of the aerospace company’s stock after selling 1,042 shares during the quarter. Leidos makes up about 0.7% of Proffitt & Goodson Inc.’s holdings, making the stock its 13th biggest position. Proffitt & Goodson Inc.’s holdings in Leidos were worth $1,728,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Stanley Laman Group Ltd. increased its stake in Leidos by 12.5% in the 1st quarter. Stanley Laman Group Ltd. now owns 13,738 shares of the aerospace company’s stock valued at $898,000 after buying an additional 1,528 shares during the period. Traynor Capital Management Inc. acquired a new position in Leidos in the 1st quarter valued at $239,000. Robeco Institutional Asset Management B.V. increased its stake in Leidos by 14.8% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 29,316 shares of the aerospace company’s stock valued at $1,917,000 after buying an additional 3,769 shares during the period. Cowen Prime Services LLC increased its stake in Leidos by 7.4% in the 1st quarter. Cowen Prime Services LLC now owns 67,890 shares of the aerospace company’s stock valued at $4,440,000 after buying an additional 4,680 shares during the period. Finally, Tower Bridge Advisors increased its stake in Leidos by 2.4% in the 1st quarter. Tower Bridge Advisors now owns 206,082 shares of the aerospace company’s stock valued at $13,478,000 after buying an additional 4,756 shares during the period. 73.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Leidos traded up $0.32, hitting $61.08, on Friday, Marketbeat reports. The company’s stock had a trading volume of 7,778 shares, compared to its average volume of 987,242. Leidos has a 52-week low of $61.53 and a 52-week high of $62.03. The company has a quick ratio of 1.01, a current ratio of 1.25 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $9.33 billion, a PE ratio of 16.44, a P/E/G ratio of 1.48 and a beta of 1.60.
Leidos announced that its board has approved a stock repurchase program on Thursday, February 22nd that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.10%. Leidos’s dividend payout ratio is presently 34.41%.
Several brokerages have issued reports on LDOS. ValuEngine cut shares of Leidos from a “buy” rating to a “hold” rating in a research note on Thursday. Credit Suisse Group restated an “outperform” rating and set a $81.00 target price (up from $79.00) on shares of Leidos in a research report on Friday, February 23rd. Zacks Investment Research lowered shares of Leidos from a “buy” rating to a “sell” rating in a research report on Thursday, April 26th. Citigroup boosted their target price on shares of Leidos from $71.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Goldman Sachs lowered shares of Leidos from a “conviction-buy” rating to a “buy” rating and set a $82.00 target price on the stock. in a research report on Tuesday, May 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $73.89.
Leidos Holdings, Inc provides services and solutions in the defense, intelligence, civil, and health markets primarily in the United States. The company 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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