Leonardo DRS, Inc. $DRS Stock Holdings Lifted by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in Leonardo DRS, Inc. by 95.4% in Q1, now holding 92,542 shares worth approximately $3.04 million.
• Leonardo DRS reported a Q2 EPS of $0.23, exceeding analysts' expectations, and expected to post a full-year EPS of 1.04 for fiscal year 2023.
• The company declared a quarterly dividend of $0.09 per share, representing an annualized yield of 0.9%, with a payout ratio of 38.71%.

Vident Advisory LLC grew its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 95.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 92,542 shares of the company's stock after acquiring an additional 45,179 shares during the period. Vident Advisory LLC's holdings in Leonardo DRS were worth $3,043,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DRS. Nuveen LLC purchased a new stake in shares of Leonardo DRS during the first quarter valued at $31,254,000. T. Rowe Price Investment Management Inc. raised its holdings in Leonardo DRS by 16.0% during 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 raised its holdings in Leonardo DRS by 116.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 799,661 shares of the company's stock worth $26,292,000 after buying an additional 429,922 shares during the period. Bank of America Corp DE lifted its stake in Leonardo DRS by 142.1% during the fourth quarter. Bank of America Corp DE now owns 522,888 shares of the company's stock valued at $16,895,000 after buying an additional 306,940 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of Leonardo DRS by 580.0% in the fourth quarter. Algert Global LLC now owns 252,965 shares of the company's stock worth $8,173,000 after buying an additional 215,765 shares during the period. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Leonardo DRS Stock Performance

Shares of DRS opened at $41.66 on Monday. The company has a market capitalization of $11.09 billion, a PE ratio of 44.80, a PEG ratio of 2.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11. The company's 50 day moving average price is $44.36 and its 200 day moving average price is $39.39. Leonardo DRS, Inc. has a 52 week low of $26.00 and a 52 week 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The company 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 was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) is presently 38.71%.

Analyst Ratings Changes

Several research firms have recently weighed in on DRS. The Goldman Sachs Group initiated coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They issued a "buy" rating and a $49.00 target price on the stock. BTIG Research set a $49.00 price objective on shares of Leonardo DRS and gave the stock a "buy" rating in a research note on Monday, May 5th. Wall Street Zen cut shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, June 16th. Finally, Morgan Stanley raised their target price on Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Insider Buying and Selling at Leonardo DRS

In other news, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the sale, the director directly owned 23,882 shares in the company, valued at $1,097,139.08. The trade was a 21.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Salzman sold 4,403 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director directly owned 11,820 shares of the company's stock, valued at approximately $486,629.40. The trade was a 27.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,216 shares of company stock worth $945,342 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

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.

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