Algert Global LLC Purchases 138,758 Shares of Leonardo DRS, Inc. $DRS

Key Points

• Algert Global LLC increased its stake in Leonardo DRS, Inc. by 54.9% during the first quarter, owning approximately 0.15% of the company, valued at $12.88 million.
• Leonardo DRS reported a quarterly earnings per share (EPS) of $0.23, slightly beating analyst expectations, alongside a revenue increase of 10.1% from the previous year.
• The company has declared a quarterly dividend of $0.09 per share, resulting in an annualized dividend yield of 0.9% with a payout ratio of 38.71%.

Algert Global LLC grew its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 54.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 391,723 shares of the company's stock after purchasing an additional 138,758 shares during the period. Algert Global LLC owned about 0.15% of Leonardo DRS worth $12,880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DRS. Envestnet Asset Management Inc. raised its holdings in shares of Leonardo DRS by 14.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 33,266 shares of the company's stock valued at $1,075,000 after purchasing an additional 4,298 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Leonardo DRS by 1.1% in the fourth quarter. Cerity Partners LLC now owns 34,410 shares of the company's stock valued at $1,112,000 after purchasing an additional 359 shares during the last quarter. Bank of Montreal Can increased its holdings in Leonardo DRS by 2.1% during the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company's stock worth $594,000 after buying an additional 379 shares during the last quarter. Legal & General Group Plc increased its holdings in Leonardo DRS by 14.2% during the fourth quarter. Legal & General Group Plc now owns 118,777 shares of the company's stock worth $3,838,000 after buying an additional 14,743 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Leonardo DRS by 214.8% during the fourth quarter. Renaissance Technologies LLC now owns 137,900 shares of the company's stock worth $4,456,000 after buying an additional 94,100 shares during the last quarter. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David W. Carey sold 6,438 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the sale, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Baylouny sold 11,375 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total transaction of $468,308.75. Following the completion of the sale, the chief operating officer directly owned 125,908 shares of the company's stock, valued at approximately $5,183,632.36. The trade was a 8.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,216 shares of company stock valued at $945,342. 0.34% of the stock is owned by company insiders.

Leonardo DRS Stock Performance

DRS stock traded up $0.74 during midday trading on Friday, reaching $41.78. 244,382 shares of the company were exchanged, compared to its average volume of 1,047,138. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. The business has a 50-day moving average price of $44.71 and a two-hundred day moving average price of $39.02. Leonardo DRS, Inc. has a one year low of $26.00 and a one year high of $49.31. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 44.93, a price-to-earnings-growth ratio of 2.32 and a beta of 0.65.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $829.00 million during the quarter, compared to analysts' expectations 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 period in the previous year, the business posted $0.18 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Equities research analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 20th. Leonardo DRS's payout ratio is presently 38.71%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DRS shares. The Goldman Sachs Group started coverage on shares of Leonardo DRS in a report on Monday, June 30th. They set a "buy" rating and a $49.00 target price on the stock. Truist Financial boosted their target price on shares of Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Morgan Stanley boosted their target price on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Canaccord Genuity Group started coverage on shares of Leonardo DRS in a report on Monday, August 11th. They set a "buy" rating and a $50.00 target price on the stock. 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 report on Monday, June 16th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

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.