Natixis Advisors LLC Sells 16,879 Shares of Leonardo DRS, Inc. (NASDAQ:DRS)

Key Points

• Natixis Advisors LLC reduced its holdings in Leonardo DRS, Inc. by 54.2%, selling 16,879 shares and resulting in ownership of 14,265 shares valued at $469,000.
• Leonardo DRS reported a 10.1% increase in quarterly revenue, totaling $829 million, along with earnings per share of $0.23, exceeding expectations.
• The company has declared a quarterly dividend of $0.09 per share, with an annualized yield of 0.9%, reflecting a payout ratio of 38.71%.

Natixis Advisors LLC decreased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 54.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,265 shares of the company's stock after selling 16,879 shares during the period. Natixis Advisors LLC's holdings in Leonardo DRS were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in DRS. FMR LLC boosted its holdings in Leonardo DRS by 183.2% in the fourth quarter. FMR LLC now owns 3,457,612 shares of the company's stock valued at $111,715,000 after purchasing an additional 2,236,661 shares during the period. First Trust Advisors LP increased its position in Leonardo DRS by 21.2% during the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company's stock worth $51,505,000 after purchasing an additional 278,541 shares during the period. Dimensional Fund Advisors LP increased its position in Leonardo DRS by 13.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock worth $46,274,000 after purchasing an additional 166,936 shares during the period. Northern Trust Corp increased its position in Leonardo DRS by 6.0% during the 4th quarter. Northern Trust Corp now owns 776,263 shares of the company's stock worth $25,081,000 after purchasing an additional 43,911 shares during the period. Finally, Voya Investment Management LLC increased its position in Leonardo DRS by 5.6% during the 4th quarter. Voya Investment Management LLC now owns 680,418 shares of the company's stock worth $21,984,000 after purchasing an additional 35,818 shares during the period. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insiders Place Their Bets

In related news, Director David W. Carey sold 6,438 shares of the stock in a transaction dated 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 transaction, the director owned 23,882 shares in the company, valued at approximately $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DRS. Canaccord Genuity Group started coverage on Leonardo DRS in a report on Monday. They issued a "buy" rating and a $50.00 price target on the stock. Truist Financial upped their target price on Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Morgan Stanley increased their price target on Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. The Goldman Sachs Group initiated coverage on Leonardo DRS in a research note on Monday, June 30th. They set a "buy" rating and a $49.00 price target on the stock. Finally, Wall Street Zen lowered Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Leonardo DRS has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Leonardo DRS Stock Performance

Shares of NASDAQ DRS traded down $0.16 during mid-day trading on Thursday, reaching $41.74. 889,166 shares of the company were exchanged, compared to its average volume of 1,057,436. The company's 50-day simple moving average is $45.06 and its 200-day simple moving average is $38.75. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $11.11 billion, a P/E ratio of 44.88, a P/E/G ratio of 2.36 and a beta of 0.65. Leonardo DRS, Inc. has a twelve month low of $26.00 and a twelve month high of $49.31.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $824.50 million. During the same quarter in the previous year, the company earned $0.18 EPS. The business's revenue was up 10.1% on a year-over-year basis. As a group, research analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

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

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.