Bank of Nova Scotia Cuts Stake in Leonardo DRS, Inc. $DRS

Bank of Nova Scotia cut its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 63.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,300 shares of the company's stock after selling 97,038 shares during the quarter. Bank of Nova Scotia's holdings in Leonardo DRS were worth $2,506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of Leonardo DRS by 1.6% during the fourth quarter. Bank of Montreal Can now owns 19,513 shares of the company's stock worth $665,000 after acquiring an additional 309 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Leonardo DRS by 4.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,228 shares of the company's stock valued at $246,000 after purchasing an additional 322 shares during the period. Osaic Holdings Inc. grew its stake in Leonardo DRS by 17.0% during the 2nd quarter. Osaic Holdings Inc. now owns 2,383 shares of the company's stock worth $111,000 after purchasing an additional 347 shares in the last quarter. Stephens Inc. AR grew its stake in Leonardo DRS by 3.3% during the 4th quarter. Stephens Inc. AR now owns 12,165 shares of the company's stock worth $415,000 after purchasing an additional 389 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in Leonardo DRS by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 7,128 shares of the company's stock worth $243,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors own 18.76% of the company's stock.

Leonardo DRS Stock Up 1.6%

Leonardo DRS stock opened at $49.21 on Wednesday. Leonardo DRS, Inc. has a 1-year low of $32.43 and a 1-year high of $50.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.86 and a quick ratio of 1.52. The stock has a market cap of $13.13 billion, a PE ratio of 45.99, a P/E/G ratio of 3.50 and a beta of 0.36. The stock's fifty day moving average is $45.59 and its two-hundred day moving average is $43.81.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $846.00 million during the quarter, compared to analysts' expectations of $825.05 million. Leonardo DRS had a return on equity of 12.02% and a net margin of 7.85%.The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. Leonardo DRS has set its FY 2026 guidance at 1.260-1.300 EPS. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.3 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 19th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Leonardo DRS's dividend payout ratio is 33.64%.

Insider Transactions at Leonardo DRS

In other news, SVP Pamela Morrow sold 11,545 shares of the business'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 transaction of $521,025.85. Following the completion of the sale, the senior vice president owned 10,551 shares in the company, valued at approximately $476,166.63. The trade was a 52.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason Rinsky sold 3,865 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.87, for a total transaction of $181,152.55. Following the completion of the transaction, the executive vice president owned 31,310 shares of the company's stock, valued at approximately $1,467,499.70. The trade was a 10.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 65,364 shares of company stock valued at $2,994,785 over the last three months. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DRS. Canaccord Genuity Group increased their price target on Leonardo DRS from $52.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Truist Financial upgraded shares of Leonardo DRS to a "strong-buy" rating in a research note on Friday, May 1st. Wall Street Zen raised shares of Leonardo DRS from a "hold" rating to a "buy" rating in a report on Sunday, May 10th. Finally, Weiss Ratings raised shares of Leonardo DRS from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.75.

Leonardo DRS Company 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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