Driehaus Capital Management LLC Decreases Stake in Leonardo DRS, Inc. $DRS

Key Points

• Driehaus Capital Management LLC significantly reduced its stake in Leonardo DRS, Inc. by 57.3%, selling over 1.1 million shares, and now owns 819,751 shares worth approximately $26.95 million.
• The company declared a quarterly dividend of $0.09 per share, with an ex-dividend date of August 20th, reflecting an annualized yield of 0.9%.
• Leonardo DRS recently posted its quarterly earnings, reporting earnings per share of $0.23, beating analyst estimates, and a revenue of $829 million, representing a 10.1% year-over-year increase.

Driehaus Capital Management LLC lessened its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 57.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 819,751 shares of the company's stock after selling 1,100,547 shares during the period. Driehaus Capital Management LLC owned approximately 0.31% of Leonardo DRS worth $26,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Leonardo DRS by 92.3% during the first 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 last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Leonardo DRS during the first quarter worth $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Leonardo DRS during the first quarter worth $50,000. Virtus Fund Advisers LLC purchased a new position in shares of Leonardo DRS during the fourth quarter worth $116,000. Finally, CWM LLC raised its holdings in shares of Leonardo DRS by 147.1% during the first 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 last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Buying and Selling at Leonardo DRS

In other news, COO John Baylouny sold 11,375 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total value of $468,308.75. Following the completion of the transaction, the chief operating officer owned 125,908 shares of the company's stock, valued at approximately $5,183,632.36. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction that occurred 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 completion of the transaction, the director owned 23,882 shares of the company's stock, valued at $1,097,139.08. This represents a 21.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,216 shares of company stock worth $945,342 over the last three months. Insiders own 0.12% of the company's stock.

Leonardo DRS Price Performance

Shares of NASDAQ DRS traded down $0.20 during mid-day trading on Wednesday, reaching $41.81. The company's stock had a trading volume of 508,894 shares, compared to its average volume of 1,040,218. Leonardo DRS, Inc. has a 1-year low of $26.00 and a 1-year high of $49.31. The stock has a market capitalization of $11.13 billion, a P/E ratio of 44.96, a P/E/G ratio of 2.17 and a beta of 0.63. The stock has a 50-day moving average of $44.28 and a two-hundred day moving average of $39.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11.

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. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The firm had revenue of $829.00 million during the quarter, compared to analysts' expectations of $824.50 million. During the same period last year, the business earned $0.18 earnings per share. Leonardo DRS's revenue 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. On average, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Leonardo DRS in a research report on Monday, August 11th. They set a "buy" rating and a $50.00 price target on the stock. Morgan Stanley raised their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Wall Street Zen lowered 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. lifted their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Leonardo DRS currently has an average rating of "Moderate Buy" and a consensus target price of $46.75.

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.