Harel Insurance Investments & Financial Services Ltd. Purchases 6,791 Shares of Leonardo DRS, Inc. $DRS

Harel Insurance Investments & Financial Services Ltd. raised its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 24.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,516 shares of the company’s stock after purchasing an additional 6,791 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Leonardo DRS were worth $1,604,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DRS. Hsbc Holdings PLC increased its position in shares of Leonardo DRS by 4.0% during the first quarter. Hsbc Holdings PLC now owns 9,191 shares of the company’s stock worth $298,000 after acquiring an additional 357 shares in the last quarter. Total Clarity Wealth Management Inc. increased its position in shares of Leonardo DRS by 7.7% during the second quarter. Total Clarity Wealth Management Inc. now owns 7,169 shares of the company’s stock worth $333,000 after acquiring an additional 514 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Leonardo DRS during the second quarter worth $26,000. Nisa Investment Advisors LLC increased its position in shares of Leonardo DRS by 92.3% during the first quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares in the last quarter. Finally, Oliver Luxxe Assets LLC increased its position in shares of Leonardo DRS by 0.7% during the second quarter. Oliver Luxxe Assets LLC now owns 91,527 shares of the company’s stock worth $4,254,000 after acquiring an additional 624 shares in the last quarter. Institutional investors own 18.76% of the company’s stock.

Wall Street Analysts Forecast Growth

DRS has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Leonardo DRS in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Leonardo DRS from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price objective on shares of Leonardo DRS in a research report on Thursday. Finally, Truist Financial lowered their price objective on shares of Leonardo DRS from $49.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.14.

Leonardo DRS Stock Up 1.4%

Leonardo DRS stock opened at $36.56 on Monday. The company has a market cap of $9.73 billion, a P/E ratio of 37.31, a price-to-earnings-growth ratio of 2.02 and a beta of 0.56. Leonardo DRS, Inc. has a 1-year low of $28.17 and a 1-year high of $49.31. The company has a fifty day simple moving average of $41.86 and a 200 day simple moving average of $42.56. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.13.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $960.00 million during the quarter, compared to the consensus estimate of $924.79 million. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.45%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.070-1.120 EPS. Research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Leonardo DRS’s dividend payout ratio (DPR) is currently 36.73%.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total value of $181,271.51. Following the completion of the sale, the director owned 11,820 shares in the company, valued at $486,629.40. This trade represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Dippold sold 19,360 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $41.65, for a total transaction of $806,344.00. Following the completion of the sale, the chief financial officer owned 58,834 shares of the company’s stock, valued at approximately $2,450,436.10. This represents a 24.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 55,039 shares of company stock worth $2,303,587 over the last quarter. 0.34% of the stock is currently owned by insiders.

About Leonardo DRS

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.