Corebridge Financial Inc. Cuts Stake in Leidos Holdings, Inc. (NYSE:LDOS)

Corebridge Financial Inc. cut its holdings in shares of Leidos Holdings, Inc. (NYSE:LDOS) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,748 shares of the aerospace company’s stock after selling 701 shares during the period. Corebridge Financial Inc.’s holdings in Leidos were worth $4,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Duncker Streett & Co. Inc. purchased a new stake in Leidos in the fourth quarter valued at about $27,000. Berbice Capital Management LLC acquired a new position in shares of Leidos during the fourth quarter valued at about $29,000. Mather Group LLC. raised its position in shares of Leidos by 143.1% in the 4th quarter. Mather Group LLC. now owns 265 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 156 shares during the last quarter. Human Investing LLC acquired a new stake in Leidos in the 4th quarter worth approximately $52,000. Finally, Vision Financial Markets LLC purchased a new stake in Leidos during the 4th quarter worth approximately $57,000. Hedge funds and other institutional investors own 76.12% of the company’s stock.

Leidos Trading Down 1.3 %

Shares of Leidos stock opened at $133.95 on Monday. Leidos Holdings, Inc. has a fifty-two week low of $123.23 and a fifty-two week high of $202.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.13 and a current ratio of 1.21. The company has a market cap of $17.17 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.65 and a beta of 0.72. The firm has a 50-day simple moving average of $137.51 and a two-hundred day simple moving average of $153.65.

Leidos (NYSE:LDOS) last released its quarterly earnings results on Tuesday, February 11th. The aerospace company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.13. Leidos had a return on equity of 30.93% and a net margin of 7.53%. As a group, equities analysts predict that Leidos Holdings, Inc. will post 10.62 earnings per share for the current fiscal year.

Leidos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.19%. Leidos’s dividend payout ratio is currently 17.32%.

Analysts Set New Price Targets

A number of research firms have issued reports on LDOS. William Blair cut shares of Leidos from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. UBS Group lowered their price target on Leidos from $162.00 to $156.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Wells Fargo & Company dropped their price target on Leidos from $197.00 to $191.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group cut Leidos from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $228.00 to $153.00 in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald upgraded Leidos to a “strong-buy” rating in a research report on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Leidos presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.07.

Insider Buying and Selling

In other news, Director Gary Stephen May sold 2,128 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $131.24, for a total transaction of $279,278.72. Following the completion of the sale, the director now owns 11,264 shares of the company’s stock, valued at $1,478,287.36. The trade was a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Kovarik, Jr. sold 1,511 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $134.56, for a total transaction of $203,320.16. Following the transaction, the director now owns 6,408 shares of the company’s stock, valued at approximately $862,260.48. This trade represents a 19.08 % decrease in their position. The disclosure for this sale can be found here. 0.96% of the stock is owned by insiders.

Leidos Profile

Leidos Holdings, Inc, together with its subsidiaries, provides services and solutions in the defense, intelligence, civil, and health markets in the United States and internationally. The company operates through Defense Solutions, Civil, and Health segments. The Defense Solutions segment offers national security solutions and systems for air, land, sea, space, and cyberspace for the U.S.