Ieq Capital LLC Buys Shares of 8,573 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 purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,573 shares of the company's stock, valued at approximately $282,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Leonardo DRS by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company's stock worth $261,656,000 after buying an additional 22,990 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Leonardo DRS by 16.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company's stock worth $192,298,000 after buying an additional 804,938 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Leonardo DRS by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company's stock worth $36,066,000 after buying an additional 8,516 shares during the last quarter. Nuveen LLC acquired a new position in shares of Leonardo DRS during the first quarter worth approximately $31,254,000. Finally, Lord Abbett & CO. LLC raised its stake in shares of Leonardo DRS by 116.3% in the first quarter. Lord Abbett & CO. LLC now owns 799,661 shares of the company's stock valued at $26,292,000 after purchasing an additional 429,922 shares in the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David W. Carey sold 6,438 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the transaction, the director owned 23,882 shares in the company, valued at approximately $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 accessible through this link. Also, COO John Baylouny sold 11,375 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $468,308.75. Following the completion of the transaction, the chief operating officer owned 125,908 shares in the company, valued at $5,183,632.36. The trade was a 8.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,216 shares of company stock worth $945,342. Company insiders own 0.12% of the company's stock.

Leonardo DRS Stock Performance

DRS stock traded down $0.72 during trading hours on Tuesday, hitting $40.33. 768,109 shares of the stock were exchanged, compared to its average volume of 853,972. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $10.73 billion, a P/E ratio of 39.10, a P/E/G ratio of 2.14 and a beta of 0.63. The company has a 50-day simple moving average of $43.99 and a two-hundred day simple moving average of $39.89. Leonardo DRS, Inc. has a 12 month low of $26.00 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 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. On average, analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a $0.09 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) is presently 38.71%.

Analyst Ratings Changes

DRS has been the topic of several analyst reports. 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. 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 on the stock. Truist Financial increased their price objective on Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen lowered Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Canaccord Genuity Group began coverage on Leonardo DRS in a research note on Monday, August 11th. They set a "buy" rating and a $50.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Leonardo DRS presently has an average rating of "Moderate Buy" and an average price target of $46.75.

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.