Deutsche Bank AG Acquires New Holdings in Leonardo DRS, Inc. $DRS

Key Points

• Deutsche Bank acquired 110,755 shares of Leonardo DRS in the second quarter, valued at approximately $4.7 million. Institutional investors collectively own 18.76% of the company.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $53.60. Canaccord Genuity and JPMorgan recently raised their targets to $54 and $53, respectively.
• Leonardo DRS exceeded quarterly expectations, reporting $0.35 in earnings per share and $913 million in revenue, up 10.1% year over year. The company also declared a quarterly dividend of $0.09 per share, equivalent to a 0.9% annualized yield.

Deutsche Bank AG bought a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 110,755 shares of the company's stock, valued at approximately $4,726,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP lifted its stake in Leonardo DRS by 7,041.7% in the 4th quarter. Quarry LP now owns 857 shares of the company's stock valued at $29,000 after buying an additional 845 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Leonardo DRS during the second quarter worth $31,000. Leonteq Securities AG acquired a new position in shares of Leonardo DRS in the fourth quarter worth $34,000. Fifth Third Bancorp acquired a new position in shares of Leonardo DRS in the first quarter worth $41,000. Finally, SBI Securities Co. Ltd. lifted its position in shares of Leonardo DRS by 324.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,362 shares of the company's stock valued at $46,000 after acquiring an additional 1,041 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Transactions at Leonardo DRS

In other Leonardo DRS news, EVP Sally Wallace sold 1,300 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 57,053 shares in the company, valued at $2,852,650. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 dated Monday, June 8th. The stock was sold at an average price of $46.48, for a total value of $386,620.64. Following the completion of the transaction, the chief financial officer owned 55,460 shares in the company, valued at approximately $2,577,780.80. This trade represents a 13.04% decrease in their ownership of the stock. 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 57,683 shares of company stock worth $2,650,769 in the last three months. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on DRS. Canaccord Genuity Group boosted their target price on shares of Leonardo DRS from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. JPMorgan Chase & Co. upped 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. Truist Financial raised shares of Leonardo DRS to a "strong-buy" rating in a research note on Friday, May 1st. Finally, Wall Street Zen upgraded Leonardo DRS from a "hold" rating to a "buy" rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.60.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $38.16 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 quick ratio of 1.56 and a current ratio of 1.92. The firm has a 50 day moving average price of $44.56 and a 200 day moving average price of $44.20. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 2.37 and a beta of 0.35.

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

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be issued a $0.09 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) is presently 30.25%.

About Leonardo DRS

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.

Want to see what other hedge funds are holding DRS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leonardo DRS, Inc. (NASDAQ:DRS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source