Ieq Capital LLC Acquires Shares of 204,000 Leonardo DRS, Inc. $DRS

Key Points

• Ieq Capital acquired 204,000 shares of Leonardo DRS during the second quarter, valued at approximately $8.7 million. Institutional investors and hedge funds collectively own 18.76% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $53.60, while Leonardo DRS exceeded quarterly expectations with $0.35 EPS and $913 million in revenue, up 10.1% year over year.
• Company insiders sold 69,228 shares worth roughly $3.17 million over the past three months, while Leonardo DRS announced a quarterly dividend of $0.09 per share, representing a 0.9% annualized yield.

Ieq Capital LLC acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 204,000 shares of the company's stock, valued at approximately $8,705,000. Ieq Capital LLC owned 0.08% of Leonardo DRS at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its position in Leonardo DRS by 1.6% in the fourth quarter. Bank of Montreal Can now owns 19,513 shares of the company's stock valued at $665,000 after acquiring an additional 309 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Leonardo DRS by 4.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,228 shares of the company's stock valued at $246,000 after acquiring an additional 322 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Leonardo DRS by 17.0% during the second quarter. Osaic Holdings Inc. now owns 2,383 shares of the company's stock valued at $111,000 after acquiring an additional 347 shares during the period. Stephens Inc. AR boosted its stake in shares of Leonardo DRS by 3.3% in the 4th quarter. Stephens Inc. AR now owns 12,165 shares of the company's stock valued at $415,000 after purchasing an additional 389 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in shares of Leonardo DRS by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 7,128 shares of the company's stock valued at $243,000 after purchasing an additional 425 shares in the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on DRS. Canaccord Genuity Group increased their target price on shares of Leonardo DRS from $52.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Weiss Ratings raised shares of Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Truist Financial raised shares of Leonardo DRS to a "strong-buy" rating in a report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Leonardo DRS from a "hold" rating to a "buy" rating in a research note on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.60.

Insider Activity at Leonardo DRS

In related news, CFO Michael Dippold sold 8,318 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.48, for a total value of $386,620.64. Following the completion of the sale, the chief financial officer owned 55,460 shares of the company's stock, valued at $2,577,780.80. This trade represents a 13.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Baylouny sold 36,471 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $45.67, for a total transaction of $1,665,630.57. Following the completion of the transaction, the chief executive officer owned 122,435 shares of the company's stock, valued at $5,591,606.45. This trade represents a 22.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,228 shares of company stock valued at $3,171,794 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

Leonardo DRS Stock Performance

Shares of NASDAQ:DRS opened at $40.70 on Monday. Leonardo DRS, Inc. has a twelve month low of $32.43 and a twelve month high of $50.59. The firm has a market cap of $10.86 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 2.48 and a beta of 0.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.92. The business has a fifty day moving average of $44.86 and a 200-day moving average of $44.22.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The business had revenue of $913.00 million for the quarter, compared to the consensus estimate of $903.27 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm's quarterly revenue was up 10.1% on a year-over-year basis. On average, equities research analysts predict that Leonardo DRS, Inc. will post 1.39 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 13th. Leonardo DRS's dividend payout ratio is presently 30.25%.

Leonardo DRS Profile

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy's Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company's portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.

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