Principal Financial Group Inc. Has $1.75 Million Stake in Leonardo DRS, Inc. (NASDAQ:DRS)

Principal Financial Group Inc. lowered its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 34.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,083 shares of the company's stock after selling 27,400 shares during the quarter. Principal Financial Group Inc.'s holdings in Leonardo DRS were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd purchased a new position in Leonardo DRS in the first quarter worth $46,000. Virtus Fund Advisers LLC acquired a new stake in shares of Leonardo DRS during the fourth quarter valued at $116,000. Mariner LLC acquired a new stake in shares of Leonardo DRS during the fourth quarter valued at $222,000. Cibc World Markets Corp acquired a new stake in shares of Leonardo DRS during the fourth quarter valued at $223,000. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company's stock valued at $249,000 after acquiring an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Leonardo DRS Stock Up 3.0%

Leonardo DRS stock traded up $1.39 during mid-day trading on Wednesday, hitting $47.53. The company's stock had a trading volume of 688,034 shares, compared to its average volume of 838,810. The firm's 50 day moving average is $44.65 and its 200 day moving average is $37.86. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.02 and a quick ratio of 1.64. The company has a market cap of $12.65 billion, a PE ratio of 54.63, a price-to-earnings-growth ratio of 2.68 and a beta of 0.63. Leonardo DRS, Inc. has a 52-week low of $22.73 and a 52-week high of $49.09.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. The business had revenue of $799.00 million for the quarter, compared to the consensus estimate of $736.72 million. Leonardo DRS had a return on equity of 10.63% and a net margin of 7.00%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS. On average, analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS's dividend payout ratio is presently 41.38%.

Insiders Place Their Bets

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the transaction, the director directly owned 23,882 shares in the company, valued at $1,097,139.08. The trade was a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DRS. BTIG Research set a $49.00 price target on Leonardo DRS and gave the stock a "buy" rating in a research note on Monday, May 5th. Truist Financial upped their price objective on Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, July 11th. The Goldman Sachs Group began coverage on Leonardo DRS in a report on Monday, June 30th. They set a "buy" rating and a $49.00 price objective for the company. Wall Street Zen lowered Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Morgan Stanley lifted their price objective on Leonardo DRS from $34.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $45.86.

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.