Commonwealth Equity Services LLC reduced its stake in Leidos by 9.2% during the third quarter, selling 7,621 shares and holding 75,397 shares valued at approximately $14.25 million at quarter end. In contrast, Norges Bank initiated a new position in Leidos worth about $261.5 million in the second quarter. AllianceBernstein L.P. increased its holdings by 64.4%, acquiring an additional 598,974 shares for a total of 1,529,261 shares valued at $241.3 million. AQR Capital Management LLC added 250,555 shares (a 21.2% increase) to reach 1,433,712 shares worth $223.7 million. Hennessy Advisors Inc. delivered the largest percentage climb, growing its position by 1,427.1% to 259,600 shares valued at $49.1 million, while Balyasny Asset Management L.P. expanded its stake by 753.0% to 215,939 shares worth $34.1 million. Collectively, institutional investors and hedge funds now own 76.12% of the company’s shares.

Leidos reported third-quarter earnings per share of $3.05, surpassing Wall Street’s consensus estimate of $2.61 by $0.44. Revenue for the period reached $4.47 billion, exceeding analysts’ forecast of $4.28 billion. The company achieved a return on equity of 33.02% and a net margin of 8.11%. Leidos set full-year 2025 guidance at an EPS range of 11.45 to 11.75, while the current sell-side consensus projects annual EPS of 10.62.

Leidos declared a quarterly dividend of $0.43 per share, paid December 31 to shareholders of record as of December 15, up from the prior $0.40 distribution. This raises the annualized dividend to $1.72 and represents a yield of approximately 0.9%, with a payout ratio of 16.04%. On the balance sheet, the company reported a debt-to-equity ratio of 0.94, a current ratio of 1.62 and a quick ratio of 1.50, underscoring a conservative leverage profile and solid liquidity position.

Leidos has attracted nine Buy ratings and six Hold ratings from sell-side analysts. UBS Group maintained a Neutral rating while raising its price target to $216.00. Citigroup initiated coverage with a Buy rating and a $218.00 target. Cantor Fitzgerald raised its target from $185.00 to $225.00 and reaffirmed an Overweight view. Stifel Nicolaus reiterated its Hold rating with a $220.00 objective, and Wall Street Zen adjusted its stance from Strong Buy to Buy. The average consensus price target across these research reports stands at $212.91, reflecting moderate upside potential under current market conditions.