Pictet Asset Management Holding SA Reduces Stock Position in Leonardo DRS, Inc. $DRS

Key Points

• Pictet Asset Management cut its stake in Leonardo DRS by 91% in the fourth quarter, while other institutional investors were mixed, with several adding to their positions. Hedge funds and other institutions still own 18.76% of the company.
• Insider selling was notable, including EVP Sally Wallace and SVP Pamela Morrow, and insiders sold 64,361 shares in the last quarter overall. Company insiders now own just 0.25% of Leonardo DRS.
• Leonardo DRS reported better-than-expected quarterly results, with EPS of $0.26 versus $0.21 expected and revenue of $846 million versus $825.05 million estimated. The company also pays a quarterly dividend of $0.09 per share and carries a consensus analyst rating of Moderate Buy.

Pictet Asset Management Holding SA lessened its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 91.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,790 shares of the company's stock after selling 88,392 shares during the quarter. Pictet Asset Management Holding SA's holdings in Leonardo DRS were worth $300,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in Leonardo DRS by 1.4% in the third quarter. Arizona State Retirement System now owns 23,616 shares of the company's stock valued at $1,072,000 after buying an additional 327 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Leonardo DRS by 17.0% in the second quarter. Osaic Holdings Inc. now owns 2,383 shares of the company's stock valued at $111,000 after buying an additional 347 shares during the last quarter. Penn Capital Management Company LLC increased its holdings in Leonardo DRS by 0.9% in the third quarter. Penn Capital Management Company LLC now owns 45,880 shares of the company's stock valued at $2,115,000 after buying an additional 406 shares during the last quarter. Savant Capital LLC increased its holdings in Leonardo DRS by 7.4% in the third quarter. Savant Capital LLC now owns 6,002 shares of the company's stock valued at $272,000 after buying an additional 416 shares during the last quarter. Finally, Huntleigh Advisors Inc. increased its holdings in Leonardo DRS by 0.7% in the third quarter. Huntleigh Advisors Inc. now owns 79,030 shares of the company's stock valued at $3,588,000 after buying an additional 532 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Transactions at Leonardo DRS

In other news, EVP Sally Wallace sold 28,960 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $46.35, for a total transaction of $1,342,296.00. Following the completion of the sale, the executive vice president owned 58,353 shares in the company, valued at approximately $2,704,661.55. This represents a 33.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Pamela Morrow sold 12,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $45.20, for a total transaction of $542,400.00. Following the sale, the senior vice president owned 6,494 shares of the company's stock, valued at $293,528.80. This trade represents a 64.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 64,361 shares of company stock worth $2,944,837. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

DRS has been the topic of several recent analyst reports. Canaccord Genuity Group increased their target price on Leonardo DRS from $52.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday. Weiss Ratings lowered Leonardo DRS from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Wall Street Zen raised Leonardo DRS from a "hold" rating to a "buy" rating in a report on Sunday. Truist Financial raised Leonardo DRS to a "strong-buy" rating in a report on Friday, May 1st. Finally, Bank of America raised their price objective on Leonardo DRS from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $52.00.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $41.36 on Monday. The stock's 50-day moving average is $44.58 and its two-hundred day moving average is $39.79. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 3.01 and a beta of 0.29. Leonardo DRS, Inc. has a 1 year low of $32.43 and a 1 year high of $49.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.52 and a current ratio of 1.86.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. The company had revenue of $846.00 million for the quarter, compared to analyst estimates of $825.05 million. Leonardo DRS had a return on equity of 12.02% and a net margin of 7.85%.The business's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. Leonardo DRS has set its FY 2026 guidance at 1.260-1.300 EPS. Analysts predict that Leonardo DRS, Inc. will post 1.29 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Leonardo DRS's dividend payout ratio is 33.64%.

Leonardo DRS 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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