Leidos (NYSE:LDOS) Shares Gap Up Following Better-Than-Expected Earnings

Leidos Holdings, Inc. (NYSE:LDOS)’s stock price gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $142.77, but opened at $147.51. Leidos shares last traded at $137.70, with a volume of 352,022 shares changing hands.

The aerospace company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.13. Leidos had a net margin of 7.37% and a return on equity of 30.31%.

Leidos Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, March 14th. Leidos’s dividend payout ratio is presently 18.22%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Cantor Fitzgerald initiated coverage on shares of Leidos in a research report on Friday. They set an “overweight” rating and a $185.00 price target for the company. Citigroup boosted their price objective on Leidos from $194.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Truist Financial cut their target price on Leidos from $205.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Royal Bank of Canada increased their price target on Leidos from $145.00 to $180.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company reduced their price objective on shares of Leidos from $205.00 to $199.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Leidos presently has an average rating of “Moderate Buy” and an average price target of $179.47.

Insider Activity

In related news, Director Noel B. Geer acquired 2,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $161.13 per share, for a total transaction of $322,260.00. Following the purchase, the director now owns 2,000 shares in the company, valued at approximately $322,260. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by company insiders.

Institutional Trading of Leidos

A number of large investors have recently bought and sold shares of the stock. Fiduciary Trust Co boosted its stake in shares of Leidos by 36.4% in the 3rd quarter. Fiduciary Trust Co now owns 23,941 shares of the aerospace company’s stock valued at $3,902,000 after purchasing an additional 6,395 shares in the last quarter. Atria Investments Inc grew its stake in Leidos by 100.1% during the third quarter. Atria Investments Inc now owns 8,837 shares of the aerospace company’s stock worth $1,440,000 after buying an additional 4,421 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Leidos by 51.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 837,370 shares of the aerospace company’s stock valued at $136,491,000 after acquiring an additional 283,558 shares during the last quarter. Los Angeles Capital Management LLC grew its position in Leidos by 21.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 55,165 shares of the aerospace company’s stock worth $8,992,000 after acquiring an additional 9,710 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in Leidos in the 3rd quarter valued at $4,622,000. 76.12% of the stock is currently owned by institutional investors.

Leidos Price Performance

The company has a quick ratio of 1.15, a current ratio of 1.23 and a debt-to-equity ratio of 0.87. The stock’s 50-day moving average price is $149.31 and its 200-day moving average price is $157.71. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.66.

About Leidos

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.