Tower View Wealth Management LLC Sells 7,039 Shares of Leonardo DRS, Inc. $DRS

Key Points

• Tower View Wealth Management LLC sold 7,039 shares of Leonardo DRS, reducing its holdings by 7.0%, which now constitutes approximately 2.3% of their portfolio valued at $4,342,000.
• Leonardo DRS announced a quarterly dividend of $0.09 per share, reflecting an annualized dividend yield of 0.8% and a payout ratio of 38.71%.
• Recent earnings results showed Leonardo DRS reported $0.23 EPS, exceeding estimates, with a revenue increase of 10.1% year-over-year to $829 million.

Tower View Wealth Management LLC decreased its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,426 shares of the company's stock after selling 7,039 shares during the period. Leonardo DRS comprises approximately 2.3% of Tower View Wealth Management LLC's holdings, making the stock its 20th largest holding. Tower View Wealth Management LLC's holdings in Leonardo DRS were worth $4,342,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DRS. Vanguard Group Inc. lifted its holdings in Leonardo DRS by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company's stock valued at $261,656,000 after buying an additional 22,990 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Leonardo DRS by 16.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company's stock valued at $192,298,000 after purchasing an additional 804,938 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Leonardo DRS by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company's stock worth $36,066,000 after purchasing an additional 8,516 shares in the last quarter. Nuveen LLC purchased a new position in Leonardo DRS during the 1st quarter worth $31,254,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Leonardo DRS by 1.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 894,122 shares of the company's stock worth $29,399,000 after buying an additional 13,911 shares during the period. Hedge funds and other institutional investors own 18.76% of the company's stock.

Insider Transactions at Leonardo DRS

In other news, COO John Baylouny sold 11,420 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $41.78, for a total transaction of $477,127.60. Following the sale, the chief operating officer directly owned 114,488 shares of the company's stock, valued at $4,783,308.64. The trade was a 9.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Salzman sold 4,403 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $181,271.51. Following the completion of the transaction, the director owned 11,820 shares of the company's stock, valued at $486,629.40. This trade represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,558 shares of company stock worth $1,933,052. Company insiders own 0.34% of the company's stock.

Leonardo DRS Stock Up 0.1%

Leonardo DRS stock opened at $44.63 on Friday. Leonardo DRS, Inc. has a 1-year low of $27.77 and a 1-year high of $49.31. The business has a fifty day moving average price of $42.41 and a 200-day moving average price of $41.25. 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 stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 2.33 and a beta of 0.56.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its 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. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Equities research analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DRS. The Goldman Sachs Group assumed coverage on shares of Leonardo DRS in a research note on Monday, June 30th. They issued a "buy" rating and a $49.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Canaccord Genuity Group began coverage on Leonardo DRS in a report on Monday, August 11th. They set a "buy" rating and a $50.00 target price for the company. Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Truist Financial boosted their price target on Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.75.

Leonardo DRS 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.

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