Leonardo DRS, Inc. $DRS Shares Bought by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Leonardo DRS by 16.0%, now owning 5,848,473 shares worth approximately $192 million.
• Analysts have set a consensus price target of $46.75 for Leonardo DRS, with a majority rating it as a "buy" or "hold."
• Leonardo DRS announced a quarterly dividend of $0.09 per share, representing a 0.9% dividend yield, to be paid on September 3rd.

T. Rowe Price Investment Management Inc. raised its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,848,473 shares of the company's stock after buying an additional 804,938 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.20% of Leonardo DRS worth $192,298,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Leonardo DRS by 92.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock worth $42,000 after buying an additional 611 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in Leonardo DRS in the 1st quarter worth about $46,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Leonardo DRS in the 1st quarter worth about $50,000. Virtus Fund Advisers LLC acquired a new stake in Leonardo DRS in the 4th quarter worth about $116,000. Finally, CWM LLC boosted its holdings in Leonardo DRS by 147.1% in the 1st quarter. CWM LLC now owns 5,518 shares of the company's stock worth $181,000 after buying an additional 3,285 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Stock Down 0.1%

Shares of NASDAQ:DRS traded down $0.0250 during trading on Monday, hitting $41.1650. The company's stock had a trading volume of 447,002 shares, compared to its average volume of 1,047,546. The business has a 50 day moving average price of $44.61 and a two-hundred day moving average price of $39.11. The company has a market capitalization of $10.95 billion, a PE ratio of 44.26, a P/E/G ratio of 2.15 and a beta of 0.65. 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.

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

Leonardo DRS Dividend Announcement

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

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the transaction, the director owned 23,882 shares in the company, valued at $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Baylouny sold 11,375 shares of the company's stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Insiders sold 22,216 shares of company stock worth $945,342 over the last 90 days. Corporate insiders own 0.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the stock a "buy" rating in a report on Monday, May 5th. Canaccord Genuity Group assumed coverage on Leonardo DRS in a report on Monday, August 11th. They issued a "buy" rating and a $50.00 price objective on the stock. Truist Financial raised their target price on shares of Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. The Goldman Sachs Group assumed coverage on shares of Leonardo DRS in a research note on Monday, June 30th. They issued a "buy" rating and a $49.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research note 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.75.

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.