Jacobs Levy Equity Management Inc. Buys 13,911 Shares of Leonardo DRS, Inc. $DRS

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Leonardo DRS, Inc. by 1.6% in Q1, now owning approximately 0.34% of the company worth $29.4 million.
• Leonardo DRS reported a quarterly EPS of $0.23, surpassing analysts' estimates, with a revenue growth of 10.1% year-over-year, totaling $829 million.
• The firm announced a quarterly dividend of $0.09, reflecting an annualized dividend of $0.36 and a yield of 0.9%, with a payout ratio of 38.71%.

Jacobs Levy Equity Management Inc. grew its stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 894,122 shares of the company's stock after purchasing an additional 13,911 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.34% of Leonardo DRS worth $29,399,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DRS. Nuveen LLC purchased a new position in shares of Leonardo DRS in the first quarter worth approximately $31,254,000. T. Rowe Price Investment Management Inc. increased its stake in Leonardo DRS by 16.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company's stock worth $192,298,000 after buying an additional 804,938 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Leonardo DRS by 116.3% during the first quarter. Lord Abbett & CO. LLC now owns 799,661 shares of the company's stock worth $26,292,000 after acquiring an additional 429,922 shares during the period. Bank of America Corp DE increased its position in shares of Leonardo DRS by 142.1% during the fourth quarter. Bank of America Corp DE now owns 522,888 shares of the company's stock worth $16,895,000 after acquiring an additional 306,940 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Leonardo DRS during the fourth quarter worth approximately $5,454,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Leonardo DRS Price Performance

NASDAQ:DRS traded up $0.82 during mid-day trading on Thursday, reaching $41.96. 219,056 shares of the stock were exchanged, compared to its average volume of 1,034,023. The business has a fifty day moving average price of $43.81 and a 200 day moving average price of $39.90. The firm has a market capitalization of $11.17 billion, a PE ratio of 45.26, a PEG ratio of 2.10 and a beta of 0.63. Leonardo DRS, Inc. has a 1-year low of $26.75 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.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.Leonardo DRS's revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Research 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 was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Leonardo DRS's payout ratio is currently 38.71%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. 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 target price for the company. Canaccord Genuity Group assumed coverage on shares of Leonardo DRS in a research report on Monday, August 11th. They set a "buy" rating and a $50.00 target price for the company. Truist Financial boosted their target price on shares of Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. boosted 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Insider Activity

In other news, COO John Baylouny sold 11,375 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total transaction of $468,308.75. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eric Salzman sold 4,403 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 value of $181,271.51. Following the transaction, the director directly owned 11,820 shares in the company, valued at $486,629.40. This trade represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,216 shares of company stock worth $945,342. Company insiders own 0.34% of the company's stock.

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.