Deutsche Bank AG Sells 34,910 Shares of Leonardo DRS, Inc. $DRS

Key Points

• Deutsche Bank AG reduced its holdings in Leonardo DRS, Inc. by 37.2%, selling 34,910 shares and resulting in a total ownership of 58,863 shares worth approximately $1.94 million.
• Several hedge funds, including Charles Schwab Investment Management and Vanguard Group, have increased their positions in Leonardo DRS during the first quarter, indicating strong institutional interest.
• Wall Street analysts have a generally positive outlook on Leonardo DRS, with a majority issuing buy ratings and an average price target of $46.75 for the stock.

Deutsche Bank AG lessened its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 37.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,863 shares of the company's stock after selling 34,910 shares during the period. Deutsche Bank AG's holdings in Leonardo DRS were worth $1,935,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Leonardo DRS by 0.8% in 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 buying an additional 8,516 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Leonardo DRS by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company's stock valued at $261,656,000 after acquiring an additional 22,990 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Leonardo DRS by 23.4% in the 1st quarter. Blair William & Co. IL now owns 31,406 shares of the company's stock valued at $1,033,000 after acquiring an additional 5,956 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Leonardo DRS in the 1st quarter valued at approximately $785,000. Finally, LPL Financial LLC grew its position in shares of Leonardo DRS by 59.0% in the 1st quarter. LPL Financial LLC now owns 135,813 shares of the company's stock valued at $4,466,000 after purchasing an additional 50,390 shares during the period. Institutional investors and hedge funds own 18.76% of the company's stock.

Insiders Place Their Bets

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $181,271.51. Following the completion of the sale, the director owned 11,820 shares in the company, valued at approximately $486,629.40. This trade represents a 27.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David W. Carey sold 6,438 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the sale, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This trade represents a 21.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,216 shares of company stock worth $945,342 in the last ninety days. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DRS shares. Truist Financial upped their price target on Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wall Street Zen cut Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Morgan Stanley increased their price objective on Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. increased their target price on Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.

Leonardo DRS Stock Up 1.8%

Shares of NASDAQ:DRS traded up $0.73 during mid-day trading on Tuesday, hitting $41.76. 246,405 shares of the company traded hands, compared to its average volume of 1,047,100. The stock has a market cap of $11.11 billion, a P/E ratio of 44.90, a P/E/G ratio of 2.15 and a beta of 0.65. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.13. Leonardo DRS, Inc. has a 12-month low of $26.00 and a 12-month high of $49.31. The stock has a 50-day moving average price of $44.56 and a two-hundred day moving average price of $39.16.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $824.50 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business's revenue was up 10.1% on a year-over-year basis. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. On average, equities research analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, August 20th. Leonardo DRS's dividend payout ratio is currently 38.71%.

Leonardo DRS Company Profile

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.