Leonardo DRS, Inc. $DRS Shares Sold by Deutsche Bank AG

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 lowered its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 37.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in shares of Leonardo DRS by 92.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock worth $42,000 after purchasing an additional 611 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Leonardo DRS during the 1st quarter worth approximately $46,000. Virtus Fund Advisers LLC purchased a new position in shares of Leonardo DRS during the 4th quarter worth approximately $116,000. CWM LLC boosted its position in shares of Leonardo DRS by 147.1% during the 1st quarter. CWM LLC now owns 5,518 shares of the company's stock worth $181,000 after purchasing an additional 3,285 shares during the period. Finally, Csenge Advisory Group purchased a new position in shares of Leonardo DRS during the 1st quarter worth approximately $222,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Transactions at Leonardo DRS

In related news, COO John Baylouny sold 11,375 shares of Leonardo DRS stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total transaction of $468,308.75. Following the sale, the chief operating officer directly owned 125,908 shares in the company, valued at $5,183,632.36. This trade represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.94, for a total transaction of $295,761.72. Following the sale, the director owned 23,882 shares in the company, valued at $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,216 shares of company stock valued at $945,342. Insiders own 0.34% of the company's stock.

Leonardo DRS Stock Up 0.2%

Shares of Leonardo DRS stock traded up $0.10 during trading on Wednesday, hitting $42.03. 706,658 shares of the stock were exchanged, compared to its average volume of 1,262,379. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of 45.19, a price-to-earnings-growth ratio of 2.19 and a beta of 0.65. The firm's 50-day moving average price is $44.45 and its 200 day moving average price is $39.20. Leonardo DRS, Inc. has a 12-month low of $26.00 and a 12-month high of $49.31. 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 released its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

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

Analysts Set New Price Targets

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

Leonardo DRS 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.