Harel Insurance Investments & Financial Services Ltd. Grows Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 38.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,725 shares of the company's stock after buying an additional 7,763 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Leonardo DRS were worth $912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in shares of Leonardo DRS by 233.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company's stock worth $32,000 after buying an additional 700 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Leonardo DRS in the 1st quarter valued at approximately $46,000. Virtus Fund Advisers LLC acquired a new stake in shares of Leonardo DRS in the 4th quarter valued at $116,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Leonardo DRS in the 4th quarter valued at $219,000. Finally, Mariner LLC purchased a new stake in shares of Leonardo DRS during the 4th quarter worth $222,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Leonardo DRS Stock Performance

DRS traded up $1.64 during trading on Friday, hitting $46.95. 1,163,074 shares of the stock were exchanged, compared to its average volume of 810,325. The company has a quick ratio of 1.64, a current ratio of 2.02 and a debt-to-equity ratio of 0.13. Leonardo DRS, Inc. has a 1-year low of $22.73 and a 1-year high of $46.96. The stock has a fifty day moving average price of $42.82 and a two-hundred day moving average price of $36.54. The firm has a market capitalization of $12.49 billion, a P/E ratio of 53.97, a PEG ratio of 2.69 and a beta of 0.63.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.03. The firm had revenue of $799.00 million during the quarter, compared to analysts' expectations of $736.72 million. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. Leonardo DRS's quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. As a group, sell-side analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, May 22nd. Leonardo DRS's dividend payout ratio (DPR) is presently 41.38%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial raised their price target on Leonardo DRS from $37.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. The Goldman Sachs Group began coverage on Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 target price on the stock. Bank of America raised Leonardo DRS from a "neutral" rating to a "buy" rating and set a $40.00 price target for the company in a report on Friday, March 7th. Morgan Stanley raised their price objective on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $44.29.

Insider Activity at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 3,529 shares of Leonardo DRS stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer directly owned 137,283 shares in the company, valued at approximately $4,387,564.68. This trade represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David W. Carey sold 6,438 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly owned 23,882 shares in the company, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is 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.