Invesco Ltd. Cuts Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Key Points

• Invesco Ltd. reduced its stake in Leonardo DRS, Inc. by 5.6%, bringing their total shares to 2,897,388 and indicating a significant adjustment in their investment strategy.
• Leonardo DRS recently received several analyst upgrades, with a price target set between $49.00 and $51.00, reflecting a generally positive outlook on its stock performance.
• The company declared a quarterly dividend of $0.09, marking a yield of 0.9%, which showcases its commitment to returning value to shareholders amidst growth in its revenue and earnings.

Invesco Ltd. trimmed its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,897,388 shares of the company's stock after selling 172,918 shares during the quarter. Invesco Ltd. owned 1.09% of Leonardo DRS worth $95,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DRS. Nisa Investment Advisors LLC grew its stake 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 purchasing an additional 611 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new stake in Leonardo DRS in the first quarter worth $46,000. Virtus Fund Advisers LLC bought a new stake in shares of Leonardo DRS in the fourth quarter valued at $116,000. CWM LLC raised its stake in shares of Leonardo DRS by 147.1% in 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, Mariner LLC purchased a new position in shares of Leonardo DRS during the 4th quarter valued at $222,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Buying and Selling at Leonardo DRS

In other news, Director David W. Carey sold 6,438 shares of the business'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 completion of the transaction, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DRS has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on shares of Leonardo DRS in a report on Monday, August 11th. They set a "buy" rating and a $50.00 price objective on the stock. BTIG Research set a $49.00 price target on shares of Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Truist Financial raised their price objective 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. Morgan Stanley boosted their target price 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. Finally, Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Leonardo DRS currently has an average rating of "Moderate Buy" and an average price target of $46.75.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $41.67 on Friday. Leonardo DRS, Inc. has a 1-year low of $26.00 and a 1-year high of $49.31. 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 $11.09 billion, a PE ratio of 44.81, a price-to-earnings-growth ratio of 2.35 and a beta of 0.65. The firm's 50 day simple moving average is $44.95 and its 200 day simple moving average is $38.84.

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 for the quarter, compared to analysts' expectations of $824.50 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business's quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) is presently 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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