Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 582,550 Leonardo DRS, Inc. $DRS

Key Points

• Connor Clark & Lunn Investment Management acquired 582,550 Leonardo DRS shares worth approximately $24.9 million, taking a 0.22% stake. Institutional investors and hedge funds collectively own 18.76% of the company.
• Analyst sentiment is generally positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $53.60. Leonardo DRS recently exceeded quarterly earnings and revenue expectations, reporting $0.35 in EPS and $913 million in revenue.
• Leonardo DRS shares opened at $39.01, down 4.2%, while insiders sold 69,228 shares worth about $3.17 million over the prior 90 days. The company also announced a quarterly dividend of $0.09 per share, representing a 0.9% yield.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 582,550 shares of the company's stock, valued at approximately $24,857,000. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Leonardo DRS as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DRS. Quarry LP lifted its holdings in shares of Leonardo DRS by 7,041.7% during the 4th quarter. Quarry LP now owns 857 shares of the company's stock valued at $29,000 after acquiring an additional 845 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Leonardo DRS in the 2nd quarter valued at $31,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Leonardo DRS in the 2nd quarter valued at $32,000. Leonteq Securities AG acquired a new stake in Leonardo DRS in the 4th quarter valued at $34,000. Finally, Fifth Third Bancorp purchased a new position in Leonardo DRS in the first quarter valued at about $41,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DRS shares. Wall Street Zen raised Leonardo DRS from a "hold" rating to a "buy" rating in a research report on Sunday, May 10th. Truist Financial raised Leonardo DRS to a "strong-buy" rating in a research report on Friday, May 1st. Canaccord Genuity Group upped their price target on Leonardo DRS from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Weiss Ratings raised shares of Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $53.60.

Insider Buying and Selling

In other news, EVP Sally Wallace sold 1,300 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $65,000.00. Following the completion of the transaction, the executive vice president directly owned 57,053 shares in the company, valued at approximately $2,852,650. This represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 8,318 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $46.48, for a total transaction of $386,620.64. Following the sale, the chief financial officer directly owned 55,460 shares of the company's stock, valued at $2,577,780.80. The trade was a 13.04% 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. Insiders sold a total of 69,228 shares of company stock worth $3,171,794 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Leonardo DRS Stock Down 4.2%

Shares of Leonardo DRS stock opened at $39.01 on Tuesday. The business has a 50-day moving average of $44.71 and a 200-day moving average of $44.20. 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 company has a market capitalization of $10.41 billion, a PE ratio of 32.78, a P/E/G ratio of 2.48 and a beta of 0.35. 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 released its quarterly earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. The business had revenue of $913.00 million for the quarter, compared to analysts' expectations of $903.27 million. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The company's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, equities analysts forecast that Leonardo DRS, Inc. will post 1.39 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.36 annualized dividend and a yield of 0.9%. Leonardo DRS's payout ratio is currently 30.25%.

Leonardo DRS 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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