Diamant Asset Management Inc. reduced its holdings in shares of Leidos (NYSE:LDOS) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,550 shares of the aerospace company’s stock after selling 1,000 shares during the quarter. Leidos accounts for about 3.0% of Diamant Asset Management Inc.’s holdings, making the stock its 8th biggest holding. Diamant Asset Management Inc.’s holdings in Leidos were worth $3,044,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in Leidos by 89.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,566 shares of the aerospace company’s stock valued at $1,005,000 after purchasing an additional 7,352 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Leidos by 37.0% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 21,457 shares of the aerospace company’s stock valued at $1,403,000 after purchasing an additional 5,792 shares during the last quarter. Tower Bridge Advisors raised its position in Leidos by 2.4% in the first quarter. Tower Bridge Advisors now owns 206,082 shares of the aerospace company’s stock valued at $13,478,000 after purchasing an additional 4,756 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in shares of Leidos by 12.5% in the first 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. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Leidos by 171.6% in the first quarter. Oppenheimer & Co. Inc. now owns 13,177 shares of the aerospace company’s stock valued at $861,000 after buying an additional 8,325 shares during the period. Institutional investors and hedge funds own 73.37% of the company’s stock.
Leidos opened at $60.76 on Friday, according to Marketbeat. Leidos has a one year low of $61.53 and a one year high of $62.03. The company has a market cap of $9.33 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.48 and a beta of 1.60. The company has a quick ratio of 1.01, a current ratio of 1.25 and a debt-to-equity ratio of 0.88.
Leidos announced that its Board of Directors has approved a share buyback plan on Thursday, February 22nd that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.11%. Leidos’s dividend payout ratio (DPR) is presently 34.41%.
Several equities research analysts have recently weighed in on LDOS shares. Zacks Investment Research raised Leidos from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Wednesday, February 28th. Citigroup increased their price target on Leidos from $71.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Credit Suisse Group reissued an “outperform” rating and issued a $81.00 price target (up previously from $79.00) on shares of Leidos in a research note on Friday, February 23rd. Jefferies Group increased their price target on Leidos from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, ValuEngine raised Leidos from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Leidos 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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