Leonardo DRS, Inc. $DRS Stake Trimmed by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Leonardo DRS, selling 10,880 shares during the first quarter, now owning approximately 765,383 shares worth about $25.17 million.
• Several analysts have initiated coverage on Leonardo DRS with a consensus rating of "Moderate Buy" and an average price target of $46.75, with JPMorgan raising its target to $48.00.
• The company announced a quarterly dividend of $0.09 per share, reflecting a 0.9% yield, with dividends set to be paid to shareholders on September 3rd.

Northern Trust Corp lessened its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 765,383 shares of the company's stock after selling 10,880 shares during the quarter. Northern Trust Corp owned approximately 0.29% of Leonardo DRS worth $25,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in DRS. Yorktown Management & Research Co Inc acquired a new position in shares of Leonardo DRS during the 1st quarter valued at about $260,000. Ameriprise Financial Inc. acquired a new position in shares of Leonardo DRS during the 4th quarter valued at about $344,000. Vanguard Group Inc. increased its stake in shares of Leonardo DRS by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company's stock valued at $261,656,000 after acquiring an additional 22,990 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Leonardo DRS during the 4th quarter valued at about $503,000. Finally, Robeco Institutional Asset Management B.V. increased 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 valued at $591,000 after acquiring an additional 11,381 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DRS. Truist Financial upped their price objective on shares of 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 boosted their target price on Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. 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 report on Monday, June 16th. The Goldman Sachs Group started coverage on Leonardo DRS in a report on Monday, June 30th. They set a "buy" rating and a $49.00 target price for the company. Finally, Wall Street Zen cut Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Insider Buying and Selling

In related news, Director Eric Salzman sold 4,403 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total transaction of $181,271.51. Following the transaction, the director directly owned 11,820 shares in the company, valued at $486,629.40. This trade represents a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO John Baylouny sold 11,375 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $468,308.75. Following the completion of the sale, the chief operating officer directly owned 125,908 shares in the company, valued at $5,183,632.36. This represents a 8.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,216 shares of company stock worth $945,342 over the last ninety days. 0.34% of the stock is owned by insiders.

Leonardo DRS Stock Up 0.7%

NASDAQ DRS traded up $0.29 on Friday, reaching $41.20. The company had a trading volume of 958,076 shares, compared to its average volume of 896,661. The firm has a market capitalization of $10.96 billion, a PE ratio of 44.30, a P/E/G ratio of 2.13 and a beta of 0.63. Leonardo DRS, Inc. has a 1 year low of $26.00 and a 1 year high of $49.31. The firm has a 50-day moving average of $44.10 and a 200-day moving average of $39.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly 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 firm had revenue of $829.00 million during the quarter, compared to analysts' expectations of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.Leonardo DRS's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. On average, equities research analysts anticipate 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 was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, August 20th. This represents a $0.36 annualized dividend and a yield of 0.9%. Leonardo DRS's dividend payout ratio (DPR) is 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.