Alliancebernstein L.P. Has $95.10 Million Stock Holdings in Leonardo DRS, Inc. $DRS

Key Points

• Alliancebernstein L.P. sold 405,779 shares of Leonardo DRS, reducing their stake by 12.3%, now holding approximately 1.09% of the company valued at $95 million.
• Analysts have upgraded their price targets for Leonardo DRS, with Truist Financial raising its target from $45.00 to $51.00, while the average price target is noted at $46.75.
• Leonardo DRS has declared a quarterly dividend of $0.09 per share, resulting in an annualized yield of 0.9% as of its last payment on September 3rd.

Alliancebernstein L.P. cut its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,892,219 shares of the company's stock after selling 405,779 shares during the quarter. Alliancebernstein L.P. owned approximately 1.09% of Leonardo DRS worth $95,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Leonardo DRS during the 1st quarter worth approximately $31,254,000. T. Rowe Price Investment Management Inc. increased its stake in Leonardo DRS by 16.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company's stock valued at $192,298,000 after acquiring an additional 804,938 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Leonardo DRS by 116.3% in the first quarter. Lord Abbett & CO. LLC now owns 799,661 shares of the company's stock valued at $26,292,000 after acquiring an additional 429,922 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Leonardo DRS by 142.1% during the fourth quarter. Bank of America Corp DE now owns 522,888 shares of the company's stock worth $16,895,000 after purchasing an additional 306,940 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Leonardo DRS in the fourth quarter worth about $5,454,000. 18.76% of the stock is owned by institutional investors.

Leonardo DRS Stock Down 1.8%

Shares of DRS stock traded down $0.72 during trading hours on Tuesday, reaching $40.33. 768,109 shares of the stock were exchanged, compared to its average volume of 1,038,981. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a 12-month low of $26.00 and a 12-month high of $49.31. The firm has a market capitalization of $10.73 billion, a P/E ratio of 43.37, a P/E/G ratio of 2.15 and a beta of 0.63. The business's fifty day moving average is $43.99 and its two-hundred day moving average is $39.89.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $824.50 million. During the same period last year, the firm posted $0.18 earnings per share. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

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

Insider Buying and Selling

In related news, Director David W. Carey sold 6,438 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the sale, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This represents a 21.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Baylouny sold 11,375 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total value of $468,308.75. Following the transaction, the chief operating officer owned 125,908 shares of the company's stock, valued at approximately $5,183,632.36. This trade represents a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,216 shares of company stock valued at $945,342. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DRS has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 price target for the company. Morgan Stanley raised their target price on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Canaccord Genuity Group began coverage on shares of Leonardo DRS in a research report on Monday, August 11th. They set a "buy" rating and a $50.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Finally, Wall Street Zen downgraded shares of Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

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.