Quantbot Technologies LP Cuts Stock Position in Leonardo DRS, Inc. $DRS

Key Points

• Quantbot Technologies LP reduced its holdings in Leonardo DRS by 69.4% in Q1, holding 15,237 shares valued at approximately $501,000.
• Leonardo DRS reported a net margin of 7.31% and revenue of $829 million for the quarter, with a 10.1% year-over-year increase.
• The company announced a quarterly dividend of $0.09 per share, representing a 0.9% dividend yield with a payout ratio of 38.71%.

Quantbot Technologies LP reduced its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 69.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,237 shares of the company's stock after selling 34,586 shares during the period. Quantbot Technologies LP's holdings in Leonardo DRS were worth $501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of Leonardo DRS by 14.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 33,266 shares of the company's stock valued at $1,075,000 after buying an additional 4,298 shares in the last quarter. Mariner LLC purchased a new position in shares of Leonardo DRS during the 4th quarter valued at about $222,000. Marshall Wace LLP raised its holdings in shares of Leonardo DRS by 340.2% during the 4th quarter. Marshall Wace LLP now owns 54,046 shares of the company's stock valued at $1,746,000 after buying an additional 41,769 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Leonardo DRS by 13.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,432,110 shares of the company's stock worth $46,274,000 after acquiring an additional 166,936 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Leonardo DRS by 5.7% during the fourth quarter. MetLife Investment Management LLC now owns 45,160 shares of the company's stock worth $1,459,000 after acquiring an additional 2,433 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on DRS shares. Wall Street Zen downgraded shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. lifted their price objective on Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Morgan Stanley lifted their price objective on Leonardo DRS from $44.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Truist Financial lifted 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. Finally, The Goldman Sachs Group assumed coverage on Leonardo DRS in a research note on Monday, June 30th. They issued a "buy" rating and a $49.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.75.

Leonardo DRS Trading Down 1.9%

Leonardo DRS stock traded down $0.81 during mid-day trading on Friday, reaching $41.66. 910,075 shares of the company traded hands, compared to its average volume of 1,003,371. Leonardo DRS, Inc. has a 52-week low of $26.00 and a 52-week high of $49.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. The firm's 50 day moving average price is $44.36 and its 200 day moving average price is $39.39. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 2.17 and a beta of 0.63.

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

Leonardo DRS Dividend Announcement

The company 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 $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, August 20th. Leonardo DRS's dividend payout ratio is presently 38.71%.

Insider Buying and Selling

In other news, COO John Baylouny sold 11,375 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total value of $468,308.75. Following the sale, the chief operating officer directly owned 125,908 shares of the company's stock, valued at $5,183,632.36. This represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David W. Carey sold 6,438 shares of the company's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the sale, the director directly owned 23,882 shares in the company, valued at $1,097,139.08. This represents a 21.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,216 shares of company stock valued at $945,342 over the last ninety days. Company insiders own 0.12% of the company's stock.

Leonardo DRS Company 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.