950,540 Shares in Leonardo DRS, Inc. $DRS Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in Leonardo DRS, purchasing 950,540 shares valued at approximately $31.25 million, representing around 0.36% of the company.
• Leonardo DRS reported earnings of $0.23 per share for the last quarter, exceeding analysts' expectations, with revenue increasing by 10.1% year-over-year.
• The company announced a quarterly dividend of $0.09 per share, translating to an annualized yield of 0.9% and a payout ratio of 38.71%.

Nuveen LLC purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 950,540 shares of the company's stock, valued at approximately $31,254,000. Nuveen LLC owned 0.36% of Leonardo DRS at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Leonardo DRS in the 1st quarter valued at approximately $1,527,000. Charles Schwab Investment Management Inc. grew its stake in shares of Leonardo DRS by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company's stock valued at $36,066,000 after buying an additional 8,516 shares during the period. Vanguard Group Inc. grew its stake in shares of Leonardo DRS by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company's stock valued at $261,656,000 after buying an additional 22,990 shares during the period. Blair William & Co. IL grew its stake in shares of Leonardo DRS by 23.4% in the 1st quarter. Blair William & Co. IL now owns 31,406 shares of the company's stock valued at $1,033,000 after buying an additional 5,956 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Leonardo DRS in the 1st quarter valued at approximately $785,000. Hedge funds and other institutional investors own 18.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DRS. Morgan Stanley increased their price objective on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. The Goldman Sachs Group began coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 price objective for the company. BTIG Research set a $49.00 price objective on shares of Leonardo DRS and gave the stock a "buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. increased their price objective on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. Finally, Canaccord Genuity Group began coverage on shares of Leonardo DRS in a research report on Monday, August 11th. They set a "buy" rating and a $50.00 price objective for the company. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.75.

Leonardo DRS Stock Up 2.0%

DRS stock traded up $0.8090 during midday trading on Friday, hitting $41.8490. The company's stock had a trading volume of 87,082 shares, compared to its average volume of 1,046,122. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.13. Leonardo DRS, Inc. has a 52-week low of $26.00 and a 52-week high of $49.31. The firm has a market capitalization of $11.14 billion, a P/E ratio of 45.09, a PEG ratio of 2.32 and a beta of 0.65. The firm has a 50-day simple moving average of $44.71 and a 200-day simple moving average of $39.02.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, equities analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The business 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 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, August 20th. Leonardo DRS's dividend payout ratio (DPR) is currently 38.71%.

Insider Buying and Selling

In related news, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction 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 sale, the director directly owned 23,882 shares in the company, valued at $1,097,139.08. This trade represents a 21.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Baylouny sold 11,375 shares of Leonardo DRS stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total transaction of $468,308.75. Following the sale, the chief operating officer 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 in the last ninety days. 0.34% of the stock is owned by corporate insiders.

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.