GSA Capital Partners LLP Makes New $785,000 Investment in Leonardo DRS, Inc. (NASDAQ:DRS)

Key Points

• GSA Capital Partners LLP has invested $785,000 in Leonardo DRS, acquiring 23,862 shares of the company's stock in the first quarter.
• Leonardo DRS reported a quarterly earnings of $0.23 EPS, exceeding analyst expectations of $0.22, with a revenue of $829 million, a 10.1% increase year-over-year.
• The company has declared a quarterly dividend of $0.09 per share, with an annualized dividend yield of 0.9%, to be paid on September 3rd.

GSA Capital Partners LLP acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,862 shares of the company's stock, valued at approximately $785,000.

Several other large investors also recently made changes to their positions in the business. FMR LLC grew its holdings in Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after purchasing an additional 2,236,661 shares in the last quarter. Norges Bank acquired a new stake in Leonardo DRS during the 4th quarter valued at $24,920,000. JPMorgan Chase & Co. boosted its stake in Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company's stock valued at $20,081,000 after acquiring an additional 449,642 shares during the last quarter. Bank of America Corp DE boosted its stake in Leonardo DRS by 142.1% during the 4th quarter. Bank of America Corp DE now owns 522,888 shares of the company's stock valued at $16,895,000 after acquiring an additional 306,940 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Leonardo DRS by 21.2% during the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company's stock valued at $51,505,000 after acquiring an additional 278,541 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Insiders Place Their Bets

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the sale, the director directly owned 23,882 shares in the company, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on DRS shares. The Goldman Sachs Group started coverage on shares of Leonardo DRS in a research note on Monday, June 30th. They set a "buy" rating and a $49.00 price objective on the stock. Truist Financial increased their price objective on shares of Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Morgan Stanley increased their price objective on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their price objective 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. Finally, BTIG Research set a $49.00 price objective on shares of Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Leonardo DRS has an average rating of "Moderate Buy" and a consensus price target of $46.29.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock traded up $0.07 during trading hours on Wednesday, reaching $41.55. The company's stock had a trading volume of 547,097 shares, compared to its average volume of 1,051,817. The company's 50 day simple moving average is $45.25 and its 200 day simple moving average is $38.56. 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, Inc. has a one year low of $26.00 and a one year high of $49.31. The stock has a market cap of $11.06 billion, a P/E ratio of 44.70, a price-to-earnings-growth ratio of 2.38 and a beta of 0.65.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.18 EPS. As a group, analysts expect that Leonardo DRS, Inc. will post 1.04 EPS 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. Investors of record on Wednesday, August 20th will be given a $0.09 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) 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.