Ieq Capital LLC Takes $282,000 Position in Leonardo DRS, Inc. $DRS

Key Points

• Ieq Capital LLC has acquired a new stake in Leonardo DRS, purchasing 8,573 shares valued at approximately $282,000 in the first quarter.
• Leonardo DRS reported quarterly earnings of $0.23 per share, exceeding analysts' estimates, and its revenue increased by 10.1% year-over-year to $829 million.
• The company declared a quarterly dividend of $0.09, equating to an annualized yield of 0.9% with a payout ratio of 38.71%.

Ieq Capital LLC acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,573 shares of the company's stock, valued at approximately $282,000.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Leonardo DRS by 92.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock valued at $42,000 after buying an additional 611 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in Leonardo DRS in the 1st quarter valued at about $46,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Leonardo DRS in the 1st quarter valued at about $50,000. Virtus Fund Advisers LLC purchased a new stake in Leonardo DRS in the 4th quarter valued at about $116,000. Finally, CWM LLC boosted its position in Leonardo DRS by 147.1% in the 1st 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. 18.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on DRS. Truist Financial boosted their price target on shares of Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a report on Friday, July 11th. Morgan Stanley boosted their price target 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. Wall Street Zen lowered shares of Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Canaccord Genuity Group began coverage on shares of Leonardo DRS in a report on Monday, August 11th. They issued a "buy" rating and a $50.00 price target for the company. Finally, The Goldman Sachs Group began coverage on shares of Leonardo DRS in a report on Monday, June 30th. They issued a "buy" rating and a $49.00 price target for the company. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Leonardo DRS presently has an average rating of "Moderate Buy" and a consensus target price of $46.75.

Leonardo DRS Stock Up 1.1%

Shares of NASDAQ DRS traded up $0.46 during trading hours on Friday, hitting $42.07. 846,809 shares of the stock were exchanged, compared to its average volume of 838,680. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.13. The company has a market cap of $11.20 billion, a PE ratio of 45.24, a PEG ratio of 2.17 and a beta of 0.63. The firm has a fifty day moving average price of $43.60 and a 200-day moving average price of $40.07. Leonardo DRS, Inc. has a 12 month low of $26.75 and a 12 month high of $49.31.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. Leonardo DRS's revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Leonardo DRS's payout ratio is currently 38.71%.

Insider Activity 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 shares were sold at an average price of $41.17, for a total transaction of $181,271.51. Following the sale, the director owned 11,820 shares of the company's stock, valued at approximately $486,629.40. The trade was a 27.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Baylouny sold 11,375 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 transaction of $468,308.75. Following the sale, the chief operating officer directly owned 125,908 shares in the company, valued at approximately $5,183,632.36. This represents a 8.29% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

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.