American Century Companies Inc. Sells 51,623 Shares of Leonardo DRS, Inc. $DRS

Key Points

• American Century Companies Inc. significantly reduced its stake in Leonardo DRS, Inc. by 81.6%, selling 51,623 shares and holding only 11,648 shares valued at $383,000 at the end of the quarter.
• Leonardo DRS announced a quarterly dividend of $0.09 per share, with an annualized yield of 0.9%, and the company has set its FY 2025 EPS guidance between 1.060 and 1.110.
• Analysts have varied price targets for Leonardo DRS, with recent updates including Truist Financial raising its target from $45.00 to $51.00, indicating a general consensus rating of "Moderate Buy" among eight analysts.

American Century Companies Inc. decreased its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 81.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,648 shares of the company's stock after selling 51,623 shares during the quarter. American Century Companies Inc.'s holdings in Leonardo DRS were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in Leonardo DRS by 92.3% during the first quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock worth $42,000 after purchasing an additional 611 shares during the period. MRP Capital Investments LLC raised its stake in Leonardo DRS by 1.9% during the first quarter. MRP Capital Investments LLC now owns 45,635 shares of the company's stock worth $1,500,000 after acquiring an additional 850 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Leonardo DRS by 5.0% during the fourth quarter. Rafferty Asset Management LLC now owns 18,952 shares of the company's stock worth $612,000 after acquiring an additional 900 shares in the last quarter. Boston Partners raised its stake in Leonardo DRS by 3.1% during the first quarter. Boston Partners now owns 38,735 shares of the company's stock worth $1,274,000 after acquiring an additional 1,149 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in Leonardo DRS during the first quarter worth about $46,000. Institutional investors own 18.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on DRS shares. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research note on Monday, June 16th. Truist Financial boosted their target price on Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Canaccord Genuity Group started coverage on Leonardo DRS in a research note on Monday, August 11th. They set a "buy" rating and a $50.00 target price for the company. Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, The Goldman Sachs Group assumed coverage on Leonardo DRS in a research note on Monday, June 30th. They set a "buy" rating and a $49.00 target price for the company. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $46.75.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the 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 completion of the sale, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David W. Carey sold 6,438 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the sale, the director directly owned 23,882 shares of the company's stock, valued at $1,097,139.08. This represents a 21.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,216 shares of company stock valued at $945,342. 0.34% of the stock is currently owned by company insiders.

Leonardo DRS Trading Up 1.1%

NASDAQ:DRS traded up $0.47 on Thursday, reaching $41.61. 921,527 shares of the stock traded hands, compared to its average volume of 837,065. The firm has a market capitalization of $11.07 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 2.15 and a beta of 0.63. The company's 50 day moving average is $43.70 and its 200-day moving average is $39.99. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.13. Leonardo DRS, Inc. has a 1-year low of $26.75 and a 1-year high of $49.31.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its earnings results 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. 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 revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Leonardo DRS's dividend payout ratio is currently 38.71%.

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.