Strs Ohio Buys New Holdings in Leonardo DRS, Inc. $DRS

Key Points

• Strs Ohio has purchased approximately 27,000 shares of Leonardo DRS, Inc., valued at about $888,000, according to a recent SEC filing.
• Insider trading activity shows significant selling, with Director Eric Salzman and COO John Baylouny collectively selling over 15,000 shares in recent transactions.
• Research analysts have set a consensus price target of $46.75 for Leonardo DRS, with multiple analysts issuing "buy" ratings following recent performance improvements.

Strs Ohio purchased a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 27,000 shares of the company's stock, valued at approximately $888,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. bought a new stake in Leonardo DRS in the 4th quarter valued at about $344,000. Deutsche Bank AG raised its position in shares of Leonardo DRS by 114.6% in the fourth quarter. Deutsche Bank AG now owns 93,773 shares of the company's stock valued at $3,030,000 after purchasing an additional 50,083 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in shares of Leonardo DRS during the 4th quarter valued at approximately $440,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Leonardo DRS by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,895 shares of the company's stock worth $1,354,000 after buying an additional 1,597 shares during the period. Finally, Millennium Management LLC grew its stake in Leonardo DRS by 7.7% in the 4th quarter. Millennium Management LLC now owns 286,672 shares of the company's stock valued at $9,262,000 after buying an additional 20,550 shares in the last quarter. Institutional investors own 18.76% of the company's stock.

Leonardo DRS Price Performance

Shares of DRS stock traded up $1.44 during trading on Monday, hitting $42.88. The company had a trading volume of 1,583,306 shares, compared to its average volume of 914,473. The stock's 50-day moving average is $43.00 and its two-hundred day moving average is $40.71. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 46.11, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. 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 $26.75 and a 52 week high of $49.31.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates 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 business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter 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, analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, August 20th. Leonardo DRS's dividend payout ratio is presently 38.71%.

Analyst Ratings Changes

DRS has been the topic of several recent research reports. Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. 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 target price for the company. Truist Financial lifted their target price on Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. increased their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a "neutral" rating in a report on Monday, June 16th. Finally, Canaccord Genuity Group started coverage on shares of Leonardo DRS in a research report on Monday, August 11th. They issued 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Leonardo DRS presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.75.

Insider Activity at Leonardo DRS

In related news, COO John Baylouny sold 11,420 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $41.78, for a total value of $477,127.60. Following the completion of the sale, the chief operating officer owned 114,488 shares in the company, valued at $4,783,308.64. The trade was a 9.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Dippold sold 19,360 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $41.65, for a total transaction of $806,344.00. Following the transaction, the chief financial officer owned 58,834 shares in the company, valued at $2,450,436.10. The trade was a 24.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,558 shares of company stock valued at $1,933,052. Corporate 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.