Versor Investments LP Boosts Stake in Leonardo DRS, Inc. $DRS

Key Points

• Versor Investments LP increased its holdings in Leonardo DRS by 24.2%, owning 51,657 shares valued at approximately $1.7 million at the end of the first quarter.
• Leonardo DRS announced a quarterly dividend of $0.09 per share, with an annual yield of 0.9%, indicating a payout ratio of 38.71%.
• Following its latest earnings report, Leonardo DRS exceeded EPS expectations at $0.23, with a year-over-year revenue growth of 10.1% totaling $829 million.

Versor Investments LP raised its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 24.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 51,657 shares of the company's stock after buying an additional 10,057 shares during the period. Versor Investments LP's holdings in Leonardo DRS were worth $1,698,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Yorktown Management & Research Co Inc acquired a new position in Leonardo DRS in the first quarter valued at approximately $260,000. Ameriprise Financial Inc. purchased a new position in shares of Leonardo DRS during the 4th quarter valued at approximately $344,000. Brevan Howard Capital Management LP acquired a new position in shares of Leonardo DRS in the 4th quarter valued at $503,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Leonardo DRS by 172.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 17,971 shares of the company's stock worth $591,000 after acquiring an additional 11,381 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Leonardo DRS in the fourth quarter valued at approximately $440,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Leonardo DRS Price Performance

NASDAQ DRS traded down $0.02 during trading hours on Thursday, hitting $41.04. 1,230,837 shares of the company's stock traded hands, compared to its average volume of 1,052,246. Leonardo DRS, Inc. has a 52-week low of $26.00 and a 52-week high of $49.31. The company has a market capitalization of $10.92 billion, a PE ratio of 44.13, a PEG ratio of 2.35 and a beta of 0.65. 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 firm's 50-day moving average is $44.79 and its 200-day moving average is $38.98.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its 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 business had revenue of $829.00 million for the quarter, compared to analyst estimates of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The business's revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Equities analysts forecast 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 issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Leonardo DRS's dividend payout ratio is currently 38.71%.

Analysts Set New Price Targets

DRS has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. JPMorgan Chase & Co. upped their price target 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. Morgan Stanley raised their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Truist Financial lifted their price objective on Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Canaccord Genuity Group began coverage on Leonardo DRS in a research note on Monday, August 11th. They set a "buy" rating and a $50.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.75.

Insider Buying and Selling

In other Leonardo DRS news, 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 value of $468,308.75. Following the transaction, the chief operating officer directly owned 125,908 shares in the company, valued at $5,183,632.36. The trade was a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David W. Carey sold 6,438 shares of the company'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 owned 23,882 shares in the company, valued at $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,216 shares of company stock worth $945,342. Insiders own 0.34% of the company's stock.

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.