Leonardo DRS, Inc. $DRS Shares Sold by Meitav Investment House Ltd.

Key Points

• Meitav Investment House Ltd. cut its stake in Leonardo DRS by 79.1% in the first quarter, selling 41,248 shares and leaving it with 10,876 shares worth about $484,000.
• Insiders also sold shares, including SVP Pamela Morrow and EVP Jason Rinsky, with insiders selling 61,499 shares total over the last 90 days worth roughly $2.8 million.
• Leonardo DRS reported solid quarterly results, beating earnings and revenue estimates, while analysts currently hold a Moderate Buy consensus with an average price target of $53.75.

Meitav Investment House Ltd. trimmed its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 79.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,876 shares of the company's stock after selling 41,248 shares during the period. Meitav Investment House Ltd.'s holdings in Leonardo DRS were worth $484,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in DRS. Quarry LP increased its position in Leonardo DRS by 7,041.7% in the 4th quarter. Quarry LP now owns 857 shares of the company's stock valued at $29,000 after acquiring an additional 845 shares during the period. Leonteq Securities AG purchased a new position in shares of Leonardo DRS in the 4th quarter valued at approximately $34,000. Allworth Financial LP grew its stake in shares of Leonardo DRS by 504.1% in the 3rd quarter. Allworth Financial LP now owns 882 shares of the company's stock valued at $40,000 after purchasing an additional 736 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Leonardo DRS in the fourth quarter valued at approximately $46,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Leonardo DRS by 324.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,362 shares of the company's stock worth $46,000 after purchasing an additional 1,041 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Insider Activity at Leonardo DRS

In other news, SVP Pamela Morrow sold 11,545 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $45.13, for a total transaction of $521,025.85. Following the sale, the senior vice president owned 10,551 shares of the company's stock, valued at $476,166.63. The trade was a 52.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jason Rinsky sold 3,865 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.87, for a total value of $181,152.55. Following the completion of the transaction, the executive vice president directly owned 31,310 shares of the company's stock, valued at $1,467,499.70. The trade was a 10.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 61,499 shares of company stock worth $2,819,430. 0.25% of the stock is currently owned by company insiders.

Leonardo DRS Price Performance

Leonardo DRS stock opened at $45.47 on Wednesday. The company has a market cap of $12.13 billion, a P/E ratio of 42.50, a price-to-earnings-growth ratio of 3.27 and a beta of 0.36. Leonardo DRS, Inc. has a one year low of $32.43 and a one year high of $50.59. The business has a fifty day moving average of $44.39 and a two-hundred day moving average of $42.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.52 and a current ratio of 1.86.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.05. Leonardo DRS had a net margin of 7.85% and a return on equity of 12.02%. The business had revenue of $846.00 million for the quarter, compared to analysts' expectations of $825.05 million. During the same period in the prior year, the company posted $0.20 EPS. The business's revenue for the quarter was up 5.9% on a year-over-year basis. Leonardo DRS has set its FY 2026 guidance at 1.260-1.300 EPS. As a group, analysts predict that Leonardo DRS, Inc. will post 1.3 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Leonardo DRS's dividend payout ratio (DPR) is presently 33.64%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Leonardo DRS from a "hold" rating to a "buy" rating in a research report on Sunday, May 10th. Truist Financial upgraded shares of Leonardo DRS to a "strong-buy" rating in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Leonardo DRS from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Bank of America boosted their price target on shares of Leonardo DRS from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, March 25th. Finally, Canaccord Genuity Group increased their price target on shares of Leonardo DRS from $52.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.75.

Leonardo DRS Company Profile

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy's Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company's portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.

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