Man Group plc Makes New $3.33 Million Investment in Leonardo DRS, Inc. $DRS

Key Points

• Man Group invested approximately $3.33 million in Leonardo DRS during the second quarter by purchasing 78,082 shares. Other major institutions, including BlackRock and Norges Bank, also established or expanded positions, while institutional investors collectively own 18.76% of the stock.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Moderate Buy” rating and a $53.60 average price target. Leonardo DRS also exceeded quarterly expectations, reporting $0.35 in EPS and $913 million in revenue, up 10.1% year over year.
• The company paid a quarterly dividend of $0.09 per share, equivalent to an annualized $0.36 payout and a 0.9% yield. Meanwhile, insiders sold 57,683 shares worth approximately $2.65 million over the past 90 days under pre-arranged trading plans.

Man Group plc bought a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 78,082 shares of the company's stock, valued at approximately $3,332,000.

Several other large investors also recently bought and sold shares of DRS. BlackRock Inc. purchased a new stake in Leonardo DRS in the 2nd quarter valued at about $212,883,000. Norges Bank purchased a new position in Leonardo DRS during the fourth quarter worth about $37,481,000. Stephens Investment Management Group LLC boosted its stake in Leonardo DRS by 107.6% during the first quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company's stock worth $94,308,000 after buying an additional 1,098,108 shares during the period. Millennium Management LLC increased its position in shares of Leonardo DRS by 152.1% during the third quarter. Millennium Management LLC now owns 1,776,185 shares of the company's stock valued at $80,639,000 after acquiring an additional 1,071,708 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Leonardo DRS by 528.6% during the third quarter. AQR Capital Management LLC now owns 1,273,444 shares of the company's stock valued at $56,000,000 after acquiring an additional 1,070,870 shares during the last quarter. Institutional investors own 18.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Canaccord Genuity Group increased their target price on Leonardo DRS from $52.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Leonardo DRS from a "hold" rating to a "buy" rating in a research report on Sunday, May 10th. Weiss Ratings raised shares of Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a "neutral" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.60.

Leonardo DRS Trading Down 1.4%

DRS opened at $38.00 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. Leonardo DRS, Inc. has a 52 week low of $32.43 and a 52 week high of $50.59. The business's 50 day moving average is $43.96 and its two-hundred day moving average is $44.19. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 2.35 and a beta of 0.35.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The business had revenue of $913.00 million during the quarter, compared to analysts' expectations of $903.27 million. During the same period in the prior year, the company earned $0.23 earnings per share. The business's revenue was up 10.1% compared to the same quarter last year. On average, research analysts predict that Leonardo DRS, Inc. will post 1.39 EPS for the current year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) is 30.25%.

Insider Activity at Leonardo DRS

In related news, EVP Sally Wallace sold 1,300 shares of Leonardo DRS stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $65,000.00. Following the completion of the transaction, the executive vice president directly owned 57,053 shares of the company's stock, valued at approximately $2,852,650. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Rinsky sold 3,864 shares of Leonardo DRS stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $45.81, for a total value of $177,009.84. Following the transaction, the executive vice president directly owned 23,581 shares of the company's stock, valued at $1,080,245.61. This trade represents a 14.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,683 shares of company stock valued at $2,650,769 over the last 90 days. Company insiders own 0.25% of the company's stock.

Leonardo DRS Company Profile

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy's Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company's portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.

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