TD Asset Management Inc Reduces Stock Holdings in Leonardo DRS, Inc. $DRS

TD Asset Management Inc reduced its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 46.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,508 shares of the company’s stock after selling 36,908 shares during the quarter. TD Asset Management Inc’s holdings in Leonardo DRS were worth $1,976,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Yorktown Management & Research Co Inc purchased a new stake in shares of Leonardo DRS during the 1st quarter valued at about $260,000. Vanguard Group Inc. grew its stake in Leonardo DRS by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company’s stock valued at $261,656,000 after purchasing an additional 22,990 shares in the last quarter. Versor Investments LP grew its stake in Leonardo DRS by 24.2% during the 1st quarter. Versor Investments LP now owns 51,657 shares of the company’s stock valued at $1,698,000 after purchasing an additional 10,057 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Leonardo DRS by 172.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 17,971 shares of the company’s stock valued at $591,000 after purchasing an additional 11,381 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP acquired a new stake in Leonardo DRS during the 1st quarter valued at approximately $3,882,000. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Leonardo DRS

In related news, CFO Michael Dippold sold 19,360 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 58,834 shares in the company, valued at $2,450,436.10. The trade was a 24.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Baylouny sold 11,420 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $41.78, for a total value of $477,127.60. Following the transaction, the chief operating officer owned 114,488 shares of the company’s stock, valued at $4,783,308.64. This represents a 9.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,039 shares of company stock worth $2,303,587 in the last 90 days. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Leonardo DRS from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. The Goldman Sachs Group assumed coverage on Leonardo DRS in a research note on Monday, June 30th. They set a “buy” rating and a $49.00 price objective for the company. Wall Street Zen lowered Leonardo DRS from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Morgan Stanley raised their price objective on Leonardo DRS from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Leonardo DRS in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Leonardo DRS presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Leonardo DRS Price Performance

Shares of DRS opened at $40.35 on Wednesday. The firm has a market cap of $10.74 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 2.08 and a beta of 0.56. The stock has a 50 day moving average of $42.24 and a 200-day moving average of $42.15. 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, Inc. has a 52 week low of $27.87 and a 52 week high of $49.31.

Leonardo DRS (NASDAQ:DRS) last issued its earnings results on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Leonardo DRS’s payout ratio is currently 38.71%.

Leonardo DRS Company Profile

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.