Northern Trust Corp Has $25.17 Million Stake in Leonardo DRS, Inc. $DRS

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 stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 765,383 shares of the company's stock after selling 10,880 shares during the period. Northern Trust Corp owned about 0.29% of Leonardo DRS worth $25,166,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Leonardo DRS by 92.3% during the first quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock valued at $42,000 after purchasing an additional 611 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in Leonardo DRS during the first quarter valued at $46,000. Virtus Fund Advisers LLC bought a new stake in Leonardo DRS during the fourth quarter valued at $116,000. CWM LLC increased its stake in Leonardo DRS by 147.1% during the first quarter. CWM LLC now owns 5,518 shares of the company's stock valued at $181,000 after purchasing an additional 3,285 shares during the last quarter. Finally, Mariner LLC bought a new stake in Leonardo DRS during the fourth quarter valued at $222,000. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Price Performance

Leonardo DRS stock traded down $1.02 during midday trading on Thursday, hitting $40.77. The company's stock had a trading volume of 500,852 shares, compared to its average volume of 1,038,258. 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's 50-day moving average price is $44.25 and its 200-day moving average price is $39.51. Leonardo DRS, Inc. has a 12 month low of $26.00 and a 12 month high of $49.31. The company has a market capitalization of $10.85 billion, a PE ratio of 43.84, a price-to-earnings-growth ratio of 2.17 and a beta of 0.63.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 EPS 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 firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $824.50 million. During the same period in the previous year, the business earned $0.18 earnings per share. Leonardo DRS's revenue for the quarter was up 10.1% compared to the same quarter last year. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DRS. 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. boosted their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a report on Monday, June 16th. The Goldman Sachs Group began coverage on shares of Leonardo DRS in a report on Monday, June 30th. They set a "buy" rating and a $49.00 price target for the company. Canaccord Genuity Group began coverage on shares of Leonardo DRS in a report on Monday, August 11th. They set a "buy" rating and a $50.00 price target for the company. Finally, Morgan Stanley boosted their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Leonardo DRS has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Insiders Place Their Bets

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total transaction of $181,271.51. Following the sale, the director owned 11,820 shares in the company, valued at approximately $486,629.40. The trade was a 27.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David W. Carey sold 6,438 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the sale, the director owned 23,882 shares in the company, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,216 shares of company stock worth $945,342. Company insiders own 0.12% of the company's stock.

About Leonardo DRS

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.