GSA Capital Partners LLP Purchases Shares of 23,862 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 stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 23,862 shares of the company's stock, valued at approximately $785,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC boosted its position in Leonardo DRS by 59.0% during the 1st quarter. LPL Financial LLC now owns 135,813 shares of the company's stock valued at $4,466,000 after buying an additional 50,390 shares during the period. MRP Capital Investments LLC raised its stake in shares of Leonardo DRS by 1.9% during the first quarter. MRP Capital Investments LLC now owns 45,635 shares of the company's stock valued at $1,500,000 after acquiring an additional 850 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Leonardo DRS by 7.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,358 shares of the company's stock worth $1,031,000 after purchasing an additional 2,071 shares during the last quarter. Csenge Advisory Group purchased a new position in shares of Leonardo DRS during the first quarter valued at approximately $222,000. Finally, Jennison Associates LLC raised its holdings in shares of Leonardo DRS by 7.3% during the first quarter. Jennison Associates LLC now owns 35,031 shares of the company's stock valued at $1,152,000 after acquiring an additional 2,384 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Leonardo DRS

In related news, Director David W. Carey sold 6,438 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.12% of the company's stock.

Leonardo DRS Stock Up 1.4%

NASDAQ DRS traded up $0.58 during mid-day trading on Monday, reaching $42.25. The stock had a trading volume of 1,266,739 shares, compared to its average volume of 1,382,931. The stock has a market cap of $11.24 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 2.37 and a beta of 0.65. Leonardo DRS, Inc. has a 1 year low of $22.73 and a 1 year 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. The company has a fifty day moving average price of $45.25 and a 200 day moving average price of $38.50.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $824.50 million. During the same period in the prior year, the company posted $0.18 earnings per share. The company's quarterly revenue was up 10.1% on a year-over-year basis. On average, research analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The business 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%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Truist Financial boosted their price objective 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. Morgan Stanley lifted their price objective on Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday. BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. The Goldman Sachs Group assumed coverage on Leonardo DRS in a research note on Monday, June 30th. They issued a "buy" rating and a $49.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.29.

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.