Sigma Planning Corp purchased a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 20,454 shares of the company’s stock, valued at approximately $873,000.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Leonardo DRS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,717,551 shares of the company’s stock worth $263,091,000 after buying an additional 34,858 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Leonardo DRS during the 2nd quarter valued at about $212,883,000. State Street Corp grew its stake in shares of Leonardo DRS by 4.0% in the fourth quarter. State Street Corp now owns 3,988,403 shares of the company’s stock worth $135,965,000 after acquiring an additional 153,697 shares during the period. AQR Capital Management LLC raised its holdings in shares of Leonardo DRS by 77.1% during the fourth quarter. AQR Capital Management LLC now owns 2,255,400 shares of the company’s stock valued at $76,887,000 after purchasing an additional 981,956 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in Leonardo DRS by 107.6% during the first quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company’s stock valued at $94,308,000 after purchasing an additional 1,098,108 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have commented on DRS. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wall Street Zen raised Leonardo DRS from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. JPMorgan Chase & Co. upped their price objective on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Canaccord Genuity Group boosted their price target on Leonardo DRS from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Leonardo DRS presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.60.
Insider Activity
In other news, EVP Jason Rinsky sold 3,865 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $45.37, for a total value of $175,355.05. Following the completion of the transaction, the executive vice president owned 27,445 shares of the company’s stock, valued at $1,245,179.65. This represents a 12.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 8,318 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.48, for a total transaction of $386,620.64. Following the sale, the chief financial officer directly owned 55,460 shares of the company’s stock, valued at approximately $2,577,780.80. This trade represents a 13.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 53,818 shares of company stock worth $2,469,616. 0.25% of the stock is currently owned by corporate insiders.
Leonardo DRS Price Performance
Shares of Leonardo DRS stock opened at $37.70 on Wednesday. The stock’s fifty day moving average is $43.80 and its 200 day moving average is $44.19. The stock has a market cap of $10.06 billion, a P/E ratio of 31.68, a P/E/G ratio of 2.31 and a beta of 0.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.92. Leonardo DRS, Inc. has a one year low of $32.43 and a one year high of $50.59.
Leonardo DRS (NASDAQ:DRS – Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. The company had revenue of $913.00 million for the quarter, compared to analysts’ expectations of $903.27 million. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. Sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.39 earnings per share for the current year.
Leonardo DRS Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.36 annualized dividend and a yield of 1.0%. Leonardo DRS’s dividend payout ratio is currently 30.25%.
About Leonardo DRS
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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