Leonardo DRS, Inc. $DRS Stock Position Lifted by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Leonardo DRS by 30.9%, now owning 197,213 shares worth approximately $6.48 million.
• Leonardo DRS reported a quarterly earnings per share (EPS) of $0.23, exceeding analysts' expectations of $0.22, with revenue of $829 million, a 10.1% increase year-over-year.
• Several analysts have set new price targets for Leonardo DRS, with Goldman Sachs issuing a buy rating and a price target of $49.00, while Truist Financial increased its target from $45.00 to $51.00.

AQR Capital Management LLC lifted its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 30.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,213 shares of the company's stock after buying an additional 46,561 shares during the quarter. AQR Capital Management LLC owned about 0.07% of Leonardo DRS worth $6,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Leonardo DRS by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company's stock worth $261,656,000 after purchasing an additional 22,990 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Leonardo DRS by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company's stock worth $36,066,000 after buying an additional 8,516 shares during the last quarter. Nuveen LLC acquired a new position in Leonardo DRS during the first quarter worth $31,254,000. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Leonardo DRS by 116.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 799,661 shares of the company's stock valued at $26,292,000 after purchasing an additional 429,922 shares during the period. Institutional investors and hedge funds own 18.76% of the company's stock.

Insider Buying and Selling

In other news, COO John Baylouny sold 11,375 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $468,308.75. Following the completion of the transaction, the chief operating officer directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eric Salzman sold 4,403 shares of Leonardo DRS stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $181,271.51. Following the sale, the director owned 11,820 shares in the company, valued at $486,629.40. This trade represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Leonardo DRS Stock Up 1.1%

Shares of NASDAQ DRS opened at $41.61 on Friday. The firm has a market cap of $11.07 billion, a PE ratio of 44.74, a P/E/G ratio of 2.15 and a beta of 0.63. Leonardo DRS, Inc. has a 12-month low of $26.75 and a 12-month high of $49.31. The company's fifty day simple moving average is $43.70 and its 200 day simple moving average is $39.99. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.13.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued 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. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The company had revenue of $829.00 million for the quarter, compared to analysts' expectations of $824.50 million. During the same period last year, the business earned $0.18 EPS. Leonardo DRS's quarterly revenue was up 10.1% compared to the same quarter last year. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, sell-side analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Investors 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 dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Leonardo DRS's dividend payout ratio (DPR) is presently 38.71%.

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.

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