Updating Tegna Inc., Leidos Holdings Inc. and Fortive Corp.

Article Excerpt

TEGNA INC. $12 (New York symbol TGNA; Consumer sector; Shares outstanding: 215.6 million; Market cap: $2.6 billion; Dividend yield: 2.3%; Takeover Target Rating: Medium; www.tegna.com) owns 46 TV stations. It also offers online services, including Premion (advertising) and G/O Digital (web design). As part of Tegna’s plan to focus on broadcasting, it spun off subsidiary Cars.com on May 31, 2017. Tegna also sold its Cofactor digital marketing business. The company’s earnings will likely improve to $1.65 a share in 2018 from $1.08 in 2017. The stock trades at just 7.2 times this year’s estimate. The $0.28 dividend yields 2.3%. Tegna is a buy. LEIDOS HOLDINGS INC. $68 (New York symbol LDOS; Manufacturing sector; Shares outstanding: 151.5 million; Market cap: $10.3 billion; Dividend yield: 1.9%; Takeover Target Rating: Highest; TSINetwork Rating: Average; www.leidos.com) provides software and technology services to three main groups: Defence and Intelligence clients; Civilian clients; and Health (commercial hospitals and the U.S. Department of Defense). Lockheed Martin (New York symbol LMT) separated its Information Systems & Global…