Sumitomo Mitsui Trust Group Inc. Sells 22,257 Shares of Leidos Holdings, Inc. $LDOS

Sumitomo Mitsui Trust Group Inc. lessened its stake in Leidos Holdings, Inc. (NYSE:LDOS) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 281,884 shares of the aerospace company’s stock after selling 22,257 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Leidos were worth $34,342,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Kelleher Financial Advisors acquired a new stake in Leidos during the second quarter worth about $28,000. N.E.W. Advisory Services LLC purchased a new position in Leidos during the second quarter valued at approximately $41,000. Western Wealth Management LLC purchased a new position in Leidos during the first quarter valued at approximately $42,000. Cedar Mountain Advisors LLC raised its position in 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 acquiring an additional 281 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in Leidos by 273.7% in the third quarter. Fortitude Family Office LLC now owns 370 shares of the aerospace company’s stock valued at $45,000 after acquiring an additional 271 shares during the period. Hedge funds and other institutional investors own 76.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America upped their price objective on Leidos from $125.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 18th. JPMorgan Chase & Co. lowered shares of Leidos from an “overweight” rating to a “neutral” rating and cut their target price for the company from $160.00 to $142.00 in a report on Thursday, October 8th. Robert W. Baird set a $150.00 target price on shares of Leidos in a research note on Wednesday, August 5th. TD Cowen lowered their price target on shares of Leidos from $135.00 to $130.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. Finally, Wall Street Zen upgraded shares of Leidos from a “hold” rating to a “buy” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $151.50.

Leidos Price Performance

Shares of Leidos stock opened at $136.02 on Friday. The firm has a market cap of $16.59 billion, a PE ratio of 10.62, a P/E/G ratio of 1.48 and a beta of 0.55. Leidos Holdings, Inc. has a twelve month low of $98.86 and a twelve month high of $205.00. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $129.28 and a 200 day moving average price of $140.48.

Leidos (NYSE:LDOS) last issued 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 return on equity of 31.48% and a net margin of 7.97%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same quarter in the prior year, the business posted $3.05 earnings per share. Leidos’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts predict that Leidos Holdings, Inc. will post 12.60 earnings per share for the current fiscal year.

Leidos Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, December 15th. This is a positive change from Leidos’s previous quarterly dividend of $0.43. Leidos’s dividend payout ratio is currently 16.04%.

Leidos announced that its board has approved a share 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 typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Leidos

In other news, Director Gary May sold 1,000 shares of the 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 transaction, the director owned 10,204 shares in the company, valued at $1,437,233.40. This trade represents a 8.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Noel Geer sold 10,000 shares of the 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 owned 34,274 shares in the company, valued at $4,820,980.84. This trade represents a 22.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.77% of the company’s stock.

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.