Lord Abbett & CO. LLC Has $26.29 Million Position in Leonardo DRS, Inc. $DRS

Key Points

• Lord Abbett & CO. LLC increased its holdings in Leonardo DRS by 116.3% to 799,661 shares, valued at approximately $26.29 million, during the 1st quarter.
• Leonardo DRS reported $0.23 EPS for the quarter, beating estimates, and its revenue showed a 10.1% year-over-year increase.
• The company declared a quarterly dividend of $0.09, resulting in an annual yield of 0.9%, payable on September 3rd.

Lord Abbett & CO. LLC boosted its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 116.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,661 shares of the company's stock after buying an additional 429,922 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.30% of Leonardo DRS worth $26,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners lifted its stake in shares of Leonardo DRS by 3.1% in the 1st quarter. Boston Partners now owns 38,735 shares of the company's stock valued at $1,274,000 after acquiring an additional 1,149 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Leonardo DRS by 25.6% in the 1st quarter. Russell Investments Group Ltd. now owns 324,014 shares of the company's stock valued at $10,654,000 after acquiring an additional 66,104 shares in the last quarter. Eagle Global Advisors LLC lifted its holdings in shares of Leonardo DRS by 5.4% during the 1st quarter. Eagle Global Advisors LLC now owns 97,000 shares of the company's stock valued at $3,189,000 after buying an additional 5,000 shares during the period. Nuveen LLC bought a new position in shares of Leonardo DRS during the 1st quarter valued at $31,254,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Leonardo DRS during the first quarter valued at about $1,527,000. Institutional investors own 18.76% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on DRS shares. JPMorgan Chase & Co. boosted their target price on Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Canaccord Genuity Group started coverage on Leonardo DRS in a research note on Monday, August 11th. They issued a "buy" rating and a $50.00 price objective on the stock. BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Truist Financial increased their target price on Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Wall Street Zen cut Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Insider Buying and Selling at Leonardo DRS

In related news, 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 transaction of $295,761.72. Following the completion of the sale, the director directly owned 23,882 shares of the company's stock, valued at $1,097,139.08. The trade was a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Leonardo DRS Trading Down 0.1%

Shares of NASDAQ:DRS traded down $0.0310 during mid-day trading on Thursday, hitting $41.0290. The stock had a trading volume of 408,654 shares, compared to its average volume of 1,046,765. The company's 50 day moving average is $44.79 and its 200-day moving average is $38.98. Leonardo DRS, Inc. has a 12-month low of $26.00 and a 12-month high of $49.31. The company has a market cap of $10.92 billion, a PE ratio of 44.08, a P/E/G ratio of 2.35 and a beta of 0.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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%. Leonardo DRS's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. On average, sell-side analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid 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 is Wednesday, August 20th. Leonardo DRS's payout ratio is 38.71%.

Leonardo DRS Company 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.