Herald Investment Management Ltd Reduces Stake in Leonardo DRS, Inc. $DRS

Key Points

• Herald Investment Management Ltd reduced its stake in Leonardo DRS, Inc. by 6.3%, holding 300,000 shares after selling 20,000 during the second quarter.
• Insiders have sold a total of 46,558 shares of Leonardo DRS stock valued at $1,933,052 over the last 90 days, indicating a decrease in their ownership.
• Analysts have mixed ratings for Leonardo DRS, with a consensus rating of "Moderate Buy" and a price target averaging $46.75.

Herald Investment Management Ltd trimmed its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 300,000 shares of the company's stock after selling 20,000 shares during the period. Leonardo DRS makes up about 2.1% of Herald Investment Management Ltd's portfolio, making the stock its 11th biggest position. Herald Investment Management Ltd owned about 0.11% of Leonardo DRS worth $13,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in Leonardo DRS by 92.3% during the first quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock valued at $42,000 after acquiring an additional 611 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Leonardo DRS in the first quarter worth about $50,000. Twin Tree Management LP bought a new stake in Leonardo DRS in the first quarter worth about $58,000. CWM LLC boosted its position in shares of Leonardo DRS by 147.1% during the first quarter. CWM LLC now owns 5,518 shares of the company's stock valued at $181,000 after buying an additional 3,285 shares during the period. Finally, Highland Capital Management LLC bought a new position in shares of Leonardo DRS during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $181,271.51. Following the sale, the director owned 11,820 shares of the company's stock, valued at $486,629.40. The trade was a 27.14% 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. Also, CFO Michael Dippold sold 19,360 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $41.65, for a total value of $806,344.00. Following the transaction, the chief financial officer directly owned 58,834 shares in the company, valued at approximately $2,450,436.10. The trade was a 24.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,558 shares of company stock valued at $1,933,052 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on DRS. Wall Street Zen lowered Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Canaccord Genuity Group started coverage on Leonardo DRS in a research note on Monday, August 11th. They issued a "buy" rating and a $50.00 target price on the stock. 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 target price for the company. Truist Financial upped their price target on shares of Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Morgan Stanley lifted their price objective on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Leonardo DRS Price Performance

Shares of NASDAQ DRS opened at $44.39 on Monday. Leonardo DRS, Inc. has a 12 month low of $27.77 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. The firm's 50 day simple moving average is $42.33 and its 200-day simple moving average is $41.42. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 47.73, a PEG ratio of 2.32 and a beta of 0.56.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share 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 the consensus estimate of $824.50 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The company's revenue for the quarter was up 10.1% on a year-over-year basis. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.8%. Leonardo DRS's dividend payout ratio (DPR) is 38.71%.

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.

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