Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 46,445 Leonardo DRS, Inc. $DRS

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 46,445 shares of Leonardo DRS, Inc. in the first quarter, valued at approximately $1,527,000.
• Leonardo DRS reported earnings of $0.23 per share, exceeding analyst expectations of $0.22, with a revenue increase of 10.1% year-over-year.
• The company also announced a quarterly dividend of $0.09 per share, with a total annualized dividend of $0.36, representing a 0.9% yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 46,445 shares of the company's stock, valued at approximately $1,527,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Leonardo DRS by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company's stock valued at $261,656,000 after buying an additional 22,990 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Leonardo DRS by 21.2% during the fourth quarter. First Trust Advisors LP now owns 1,594,092 shares of the company's stock valued at $51,505,000 after purchasing an additional 278,541 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Leonardo DRS by 13.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock valued at $46,274,000 after purchasing an additional 166,936 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Leonardo DRS by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company's stock valued at $36,066,000 after purchasing an additional 8,516 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Leonardo DRS by 6.0% during the fourth quarter. Northern Trust Corp now owns 776,263 shares of the company's stock valued at $25,081,000 after purchasing an additional 43,911 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Leonardo DRS Stock Performance

DRS stock traded down $0.02 on Thursday, reaching $41.04. The company's stock had a trading volume of 1,230,987 shares, compared to its average volume of 1,276,429. Leonardo DRS, Inc. has a 52 week low of $26.00 and a 52 week high of $49.31. The company has a market capitalization of $10.92 billion, a P/E ratio of 44.13, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65. The firm has a fifty day moving average of $44.71 and a two-hundred day moving average of $39.02. 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 (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 11.02% and a net margin of 7.31%.The business had revenue of $829.00 million during the quarter, compared to analyst estimates of $824.50 million. During the same period in the prior year, the company posted $0.18 EPS. The business'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, analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 20th. Leonardo DRS's dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DRS. Morgan Stanley upped their target price on Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. The Goldman Sachs Group began coverage on Leonardo DRS in a report on Monday, June 30th. They set a "buy" rating and a $49.00 target price for the company. Truist Financial upped their target price on Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. upped their target price on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Finally, BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a "buy" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Leonardo DRS has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total transaction of $181,271.51. Following the completion of the transaction, the director directly owned 11,820 shares of the company's stock, valued at approximately $486,629.40. This trade represents a 27.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David W. Carey sold 6,438 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the transaction, the director directly owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,216 shares of company stock valued at $945,342. 0.34% of the stock is owned by corporate insiders.

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.