Jump Financial LLC Makes New Investment in Leonardo DRS, Inc. $DRS

Key Points

• Jump Financial LLC purchased 29,500 shares of Leonardo DRS, valued at approximately $970,000, during the first quarter, signaling institutional interest in the defense company.
• Leonardo DRS has received multiple buy ratings from analysts, with a consensus target price of $46.75, emphasizing positive market sentiment towards the company's growth potential.
• The company recently announced a quarterly dividend of $0.09 per share, reflecting a commitment to returning value to shareholders with an annualized dividend yield of 0.9%.

Jump Financial LLC purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 29,500 shares of the company's stock, valued at approximately $970,000.

A number of other institutional investors have also recently added to or reduced their stakes in DRS. Mariner LLC purchased a new stake in Leonardo DRS during the 4th quarter worth $222,000. Dimensional Fund Advisors LP boosted its position in Leonardo DRS by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock worth $46,274,000 after purchasing an additional 166,936 shares during the period. Tower Research Capital LLC TRC boosted its position in Leonardo DRS by 99.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,851 shares of the company's stock worth $351,000 after purchasing an additional 5,397 shares during the period. Northern Trust Corp boosted its position in Leonardo DRS by 6.0% during the 4th quarter. Northern Trust Corp now owns 776,263 shares of the company's stock worth $25,081,000 after purchasing an additional 43,911 shares during the period. Finally, AQR Capital Management LLC boosted its position in Leonardo DRS by 3.5% during the 4th quarter. AQR Capital Management LLC now owns 150,652 shares of the company's stock worth $4,868,000 after purchasing an additional 5,090 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Leonardo DRS

In related news, COO John Baylouny sold 11,375 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total transaction of $468,308.75. Following the completion of the sale, the chief operating officer owned 125,908 shares of the company's stock, valued at $5,183,632.36. This represents a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Salzman sold 4,403 shares of the business's stock in a transaction dated 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 directly owned 11,820 shares of the company's stock, valued at approximately $486,629.40. This represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,216 shares of company stock valued at $945,342 in the last quarter. Insiders own 0.12% of the company's stock.

Leonardo DRS Stock Down 0.9%

Shares of Leonardo DRS stock traded down $0.38 during trading on Wednesday, reaching $41.63. The company had a trading volume of 435,165 shares, compared to its average volume of 1,039,868. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11. Leonardo DRS, Inc. has a fifty-two week low of $26.00 and a fifty-two week high of $49.31. The firm's fifty day moving average is $44.28 and its 200-day moving average is $39.50. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 44.83, a price-to-earnings-growth ratio of 2.17 and a beta of 0.63.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The business 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% compared to the same quarter last year. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. On average, analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th 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 of this dividend is Wednesday, August 20th. Leonardo DRS's dividend payout ratio is currently 38.71%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 price target for the company. 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 assumed coverage on shares of Leonardo DRS in a report on Monday, August 11th. They issued a "buy" rating and a $50.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.75.

Leonardo DRS Company 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.