Susquehanna Fundamental Investments LLC Increases Position in Leonardo DRS, Inc. $DRS

Key Points

• Susquehanna Fundamental Investments nearly doubled its Leonardo DRS position in the second quarter, increasing holdings by 95% to 140,080 shares valued at approximately $6.0 million. Other institutional investors also expanded their stakes, with institutions owning 18.76% of the stock.
• Leonardo DRS reported quarterly EPS of $0.35, beating estimates of $0.27, while revenue rose 10.1% year over year to $913 million. The company also paid a quarterly dividend of $0.09 per share, representing a 0.9% yield.
• Shares opened at $38.00, down 1.4%, and remain below their 52-week high of $50.59. Analysts maintain a “Moderate Buy” consensus with an average price target of $53.60, although insiders sold 57,683 shares worth about $2.65 million over the past 90 days.

Susquehanna Fundamental Investments LLC raised its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 95.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,080 shares of the company's stock after purchasing an additional 68,237 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.05% of Leonardo DRS worth $5,977,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DRS. Vanguard Group Inc. increased its position in shares of Leonardo DRS by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 7,717,551 shares of the company's stock worth $263,091,000 after purchasing an additional 34,858 shares in the last quarter. BlackRock Inc. purchased a new position in Leonardo DRS in the 2nd quarter valued at $212,883,000. State Street Corp lifted its holdings in Leonardo DRS by 4.0% in the 4th quarter. State Street Corp now owns 3,988,403 shares of the company's stock valued at $135,965,000 after purchasing an additional 153,697 shares in the last quarter. AQR Capital Management LLC boosted its stake in Leonardo DRS by 77.1% during the 4th quarter. AQR Capital Management LLC now owns 2,255,400 shares of the company's stock worth $76,887,000 after purchasing an additional 981,956 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Leonardo DRS by 107.6% during the first quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company's stock worth $94,308,000 after buying an additional 1,098,108 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Sally Wallace sold 1,300 shares of Leonardo DRS stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $65,000.00. Following the sale, the executive vice president owned 57,053 shares of the company's stock, valued at approximately $2,852,650. The trade was a 2.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 8,318 shares of the company's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.48, for a total value of $386,620.64. Following the completion of the transaction, the chief financial officer owned 55,460 shares in the company, valued at $2,577,780.80. This represents a 13.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 57,683 shares of company stock worth $2,650,769. Corporate insiders own 0.25% of the company's stock.

Leonardo DRS Stock Down 1.4%

NASDAQ DRS opened at $38.00 on Tuesday. Leonardo DRS, Inc. has a 52 week low of $32.43 and a 52 week high of $50.59. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. The business's fifty day simple moving average is $43.96 and its 200-day simple moving average is $44.19. The firm has a market cap of $10.14 billion, a PE ratio of 31.93, a P/E/G ratio of 2.35 and a beta of 0.35.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.08. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The firm had revenue of $913.00 million during the quarter, compared to analyst estimates of $903.27 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Leonardo DRS's quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts anticipate that Leonardo DRS, Inc. will post 1.39 earnings per share for the current year.

Leonardo DRS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, August 13th. Leonardo DRS's payout ratio is presently 30.25%.

Wall Street Analysts Forecast Growth

DRS has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Canaccord Genuity Group upped their price objective on shares of Leonardo DRS from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Leonardo DRS from a "hold" rating to a "buy" rating in a report on Sunday, May 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Leonardo DRS presently has an average rating of "Moderate Buy" and a consensus price target of $53.60.

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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