Canada Pension Plan Investment Board Takes Position in Leonardo DRS, Inc. $DRS

Key Points

• Canada Pension Plan Investment Board acquired 55,700 Leonardo DRS shares worth approximately $2.4 million during the second quarter. Institutional investors collectively own 18.76% of the company.
• Analyst sentiment is favorable, with Leonardo DRS receiving a “Moderate Buy” consensus rating and an average price target of $53.60. The company also exceeded quarterly expectations, reporting $0.35 in earnings per share and $913 million in revenue.
• Leonardo DRS paid a quarterly dividend of $0.09 per share, equating to an annualized dividend of $0.36 and a 0.9% yield. Insiders sold 57,683 shares worth roughly $2.65 million over the past 90 days.

Canada Pension Plan Investment Board purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 55,700 shares of the company's stock, valued at approximately $2,377,000.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Leonardo DRS by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,817 shares of the company's stock worth $1,441,000 after purchasing an additional 1,922 shares during the last quarter. Millennium Management LLC grew its position in shares of Leonardo DRS by 29.0% in the 1st quarter. Millennium Management LLC now owns 369,749 shares of the company's stock valued at $12,157,000 after buying an additional 83,077 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Leonardo DRS by 9.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 148,474 shares of the company's stock valued at $4,882,000 after buying an additional 12,712 shares during the period. Intech Investment Management LLC increased its stake in shares of Leonardo DRS by 18.6% in the first quarter. Intech Investment Management LLC now owns 48,560 shares of the company's stock valued at $1,597,000 after buying an additional 7,625 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Leonardo DRS during the first quarter worth about $225,000. Institutional investors own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DRS shares. Weiss Ratings raised Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Canaccord Genuity Group raised their price target on shares of Leonardo DRS from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Leonardo DRS from a "hold" rating to a "buy" rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Leonardo DRS currently has an average rating of "Moderate Buy" and an average price target of $53.60.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS opened at $38.54 on Monday. The company has a market capitalization of $10.29 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 2.35 and a beta of 0.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.56. The business's 50-day moving average is $44.10 and its 200-day moving average is $44.20. Leonardo DRS, Inc. has a 1 year low of $32.43 and a 1 year high of $50.59.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $903.27 million. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts predict that Leonardo DRS, Inc. will post 1.39 earnings per share for the current year.

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) is 30.25%.

Insider Activity at Leonardo DRS

In related news, EVP Sally Wallace sold 1,300 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $65,000.00. Following the transaction, the executive vice president owned 57,053 shares in the company, valued at $2,852,650. The trade was a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Baylouny sold 36,471 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $45.67, for a total transaction of $1,665,630.57. Following the transaction, the chief executive officer owned 122,435 shares in the company, valued at $5,591,606.45. The trade was a 22.95% decrease in their position. 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 have sold 57,683 shares of company stock worth $2,650,769. 0.25% of the stock is owned by insiders.

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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