Fox Run Management L.L.C. Reduces Holdings in Leonardo DRS, Inc. $DRS

Fox Run Management L.L.C. lowered its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 66.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,025 shares of the company’s stock after selling 16,063 shares during the period. Fox Run Management L.L.C.’s holdings in Leonardo DRS were worth $373,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Leonardo DRS during the 2nd quarter worth approximately $26,000. Nisa Investment Advisors LLC lifted its stake in Leonardo DRS by 92.3% in the 1st 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 in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Leonardo DRS in the 1st quarter valued at approximately $50,000. Twin Tree Management LP acquired a new stake in Leonardo DRS during the 1st quarter valued at $58,000. Finally, Penserra Capital Management LLC purchased a new position in Leonardo DRS during the second quarter worth $69,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Down 0.4%

DRS opened at $35.46 on Thursday. Leonardo DRS, Inc. has a 12 month low of $28.17 and a 12 month high of $49.31. The business has a 50-day moving average of $40.89 and a two-hundred day moving average of $42.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 2.02 and a beta of 0.56.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $924.79 million. During the same period in the prior year, the firm posted $0.24 EPS. The company’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, research analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

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

Insider Activity

In other news, COO John Baylouny sold 8,481 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $43.69, for a total transaction of $370,534.89. Following the completion of the sale, the chief operating officer directly owned 106,007 shares of the company’s stock, valued at $4,631,445.83. The trade was a 7.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Salzman sold 4,403 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $181,271.51. Following the sale, the director owned 11,820 shares of the company’s stock, valued at approximately $486,629.40. The trade was a 27.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,039 shares of company stock valued at $2,303,587 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

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

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.