GAMMA Investing LLC Has $321,000 Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

GAMMA Investing LLC increased its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 5,230.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,554 shares of the company's stock after purchasing an additional 10,356 shares during the period. GAMMA Investing LLC's holdings in Leonardo DRS were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its stake in shares of Leonardo DRS by 233.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock valued at $32,000 after acquiring an additional 700 shares during the last quarter. IFP Advisors Inc increased its stake in Leonardo DRS by 37.0% in the fourth quarter. IFP Advisors Inc now owns 1,944 shares of the company's stock valued at $63,000 after purchasing an additional 525 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in Leonardo DRS in the fourth quarter worth $116,000. Sequoia Financial Advisors LLC bought a new position in shares of Leonardo DRS during the fourth quarter worth $219,000. Finally, Mariner LLC acquired a new position in shares of Leonardo DRS in the 4th quarter valued at $222,000. Institutional investors own 18.76% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on DRS shares. Truist Financial raised their price objective on Leonardo DRS from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Morgan Stanley raised their price target on Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Bank of America upgraded shares of Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 target price on the stock in a report on Friday, March 7th. Finally, BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Leonardo DRS presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Insider Buying and Selling

In other news, COO John Baylouny sold 3,529 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total transaction of $112,786.84. Following the completion of the sale, the chief operating officer now owns 137,283 shares in the company, valued at $4,387,564.68. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David W. Carey sold 6,438 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the transaction, the director now directly owns 23,882 shares in the company, valued at $1,097,139.08. The trade was a 21.23% decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Leonardo DRS Stock Down 3.6%

NASDAQ:DRS traded down $1.61 during trading hours on Tuesday, reaching $43.12. 1,656,911 shares of the stock were exchanged, compared to its average volume of 758,297. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month high of $46.96. The firm has a 50 day moving average of $41.18 and a 200 day moving average of $35.89. The stock has a market cap of $11.47 billion, a PE ratio of 49.56, a PEG ratio of 2.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.02 and a quick ratio of 1.64.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The firm had revenue of $799.00 million for the quarter, compared to analysts' expectations of $736.72 million. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.36 annualized dividend and a yield of 0.83%. Leonardo DRS's dividend payout ratio (DPR) is currently 41.38%.

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.