Norges Bank purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,099,462 shares of the company’s stock, valued at approximately $37,481,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Leonardo DRS by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,817 shares of the company’s stock worth $1,441,000 after buying an additional 1,922 shares during the period. Millennium Management LLC increased its position in shares of Leonardo DRS by 29.0% during the first quarter. Millennium Management LLC now owns 369,749 shares of the company’s stock worth $12,157,000 after buying an additional 83,077 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Leonardo DRS by 9.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 148,474 shares of the company’s stock worth $4,882,000 after buying an additional 12,712 shares during the period. Intech Investment Management LLC increased its position in shares of Leonardo DRS by 18.6% during the first quarter. Intech Investment Management LLC now owns 48,560 shares of the company’s stock worth $1,597,000 after buying an additional 7,625 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Leonardo DRS during the first quarter worth $225,000. Institutional investors and hedge funds own 18.76% of the company’s stock.
Leonardo DRS Trading Up 0.9%
NASDAQ:DRS opened at $46.55 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 1.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $12.42 billion, a price-to-earnings ratio of 43.50, a PEG ratio of 3.33 and a beta of 0.34. The firm has a fifty day simple moving average of $44.33 and a two-hundred day simple moving average of $40.97. Leonardo DRS, Inc. has a 12 month low of $32.43 and a 12 month high of $49.31.
Leonardo DRS Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 19th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Leonardo DRS’s dividend payout ratio (DPR) is 33.64%.
Insider Transactions at Leonardo DRS
In other Leonardo DRS news, EVP Jason Rinsky sold 3,865 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.87, for a total value of $181,152.55. Following the completion of the sale, the executive vice president owned 31,310 shares of the company’s stock, valued at approximately $1,467,499.70. This trade represents a 10.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Pamela Morrow sold 11,545 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $45.13, for a total value of $521,025.85. Following the completion of the sale, the senior vice president directly owned 10,551 shares of the company’s stock, valued at $476,166.63. This trade represents a 52.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 67,771 shares of company stock valued at $3,104,615. Company insiders own 0.25% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of Leonardo DRS from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen raised Leonardo DRS from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings raised Leonardo DRS from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday. Morgan Stanley set a $47.00 target price on Leonardo DRS in a research note on Wednesday, February 25th. Finally, Bank of America raised their target price on Leonardo DRS from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Leonardo DRS currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.
View Our Latest Analysis on Leonardo DRS
Leonardo DRS Profile
Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.
The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.
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