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

Renaissance Investment Group LLC trimmed its position in Leidos Holdings, Inc. (NYSE:LDOS) by 90.5% during the third quarter, Holdings Channel.com reports. The firm owned 6,797 shares of the aerospace company’s stock after selling 64,674 shares during the period. Renaissance Investment Group LLC’s holdings in Leidos were worth $828,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new stake in shares of Leidos during the first quarter worth about $42,000. Kelleher Financial Advisors acquired a new position in shares of Leidos in the second quarter valued at approximately $28,000. Cedar Mountain Advisors LLC raised its position in shares of Leidos by 5,620.0% in the first quarter. Cedar Mountain Advisors LLC now owns 286 shares of the aerospace company’s stock valued at $44,000 after buying an additional 281 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Leidos by 273.7% during the third quarter. Fortitude Family Office LLC now owns 370 shares of the aerospace company’s stock valued at $45,000 after buying an additional 271 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Leidos during the second quarter valued at approximately $41,000. 76.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Leidos news, Director Noel B. 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 transaction of $1,406,600.00. Following the transaction, the director owned 34,274 shares of the company’s stock, valued at $4,820,980.84. This trade represents a 22.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary May sold 1,000 shares of Leidos stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $140.85, for a total transaction of $140,850.00. Following the completion of the transaction, the director owned 10,204 shares in the company, valued at approximately $1,437,233.40. This trade represents a 8.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.77% of the stock is currently owned by insiders.

Leidos Trading Up 1.3%

NYSE LDOS opened at $142.81 on Friday. Leidos Holdings, Inc. has a 12 month low of $98.86 and a 12 month high of $205.77. The company has a 50-day moving average of $129.33 and a 200-day moving average of $141.60. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.63 and a quick ratio of 1.60. The company has a market cap of $17.92 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.57 and a beta of 0.58.

Leidos (NYSE:LDOS) last announced its quarterly earnings data on Monday, August 3rd. The aerospace company reported $3.26 earnings per share for the quarter, topping 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 business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same period in the prior year, the firm posted $3.21 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts predict that Leidos Holdings, Inc. will post 12.38 earnings per share for the current year.

Leidos announced that its Board of Directors has authorized a stock repurchase plan on Friday, July 31st that allows the company to repurchase 20,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LDOS. UBS Group raised their target price on shares of Leidos from $124.00 to $138.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Leidos from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 22nd. Jefferies Financial Group reduced their price target on Leidos from $145.00 to $130.00 and set a “hold” rating on the stock in a research note on Tuesday, October 6th. BNP Paribas Exane raised their price objective on Leidos from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Bank of America raised their price objective on Leidos from $125.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $150.85.

Leidos Profile

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.