Los Angeles Capital Management LLC Purchases New Position in Leonardo DRS, Inc. $DRS

Los Angeles Capital Management LLC acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 348,797 shares of the company’s stock, valued at approximately $16,212,000. Los Angeles Capital Management LLC owned about 0.13% of Leonardo DRS as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Leonardo DRS in the 2nd quarter worth $26,000. Nisa Investment Advisors LLC boosted 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 valued at $42,000 after buying an additional 611 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Leonardo DRS during the first quarter valued at $50,000. Twin Tree Management LP bought a new stake in Leonardo DRS in the 1st quarter worth about $58,000. Finally, Penserra Capital Management LLC purchased a new position in Leonardo DRS in the 2nd quarter worth about $69,000. 18.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DRS. Canaccord Genuity Group reaffirmed a “buy” rating and set a $50.00 price target on shares of Leonardo DRS in a report on Thursday, October 30th. Truist Financial lowered their price objective on shares of Leonardo DRS from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley raised their target price on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Leonardo DRS in a research report on Wednesday, October 8th. Finally, Zacks Research cut Leonardo DRS from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Leonardo DRS presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.14.

Leonardo DRS Stock Performance

DRS opened at $35.33 on Friday. The company’s 50 day moving average is $41.26 and its 200 day moving average is $42.52. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.13. The company has a market cap of $9.40 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.02 and a beta of 0.56. Leonardo DRS, Inc. has a 12-month low of $28.17 and a 12-month high of $49.31.

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

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, November 18th. Leonardo DRS’s dividend payout ratio is 36.73%.

Insider Buying and Selling

In related news, CFO Michael Dippold sold 19,360 shares of Leonardo DRS stock in a transaction on Friday, September 12th. The stock was sold at an average price of $41.65, for a total transaction of $806,344.00. Following the transaction, the chief financial officer directly owned 58,834 shares in the company, valued at approximately $2,450,436.10. The trade was a 24.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric Salzman sold 4,403 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total value of $181,271.51. Following the sale, the director directly owned 11,820 shares of the company’s stock, valued at $486,629.40. This represents a 27.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 55,039 shares of company stock valued at $2,303,587. 0.34% of the stock is owned by company 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.