Union Bancaire Privee UBP SA Invests $1.15 Million in Leonardo DRS, Inc. $DRS

Key Points

• Union Bancaire Privee UBP SA has invested approximately $1.15 million in Leonardo DRS, acquiring 24,753 shares of the company during the second quarter.
• Several institutional investors, including Counterpoint Mutual Funds LLC and the Public Employees Retirement System of Ohio, have also increased their positions in Leonardo DRS during the same period.
• Despite recent changes in analyst ratings, including a downgrade to "hold" by Wall Street Zen, the stock has a current average price target of $46.75 and a rating of "Moderate Buy" from analysts.

Union Bancaire Privee UBP SA bought a new position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 24,753 shares of the company's stock, valued at approximately $1,151,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in shares of Leonardo DRS in the 2nd quarter worth approximately $1,091,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Leonardo DRS in the 2nd quarter worth approximately $2,793,000. Oliver Luxxe Assets LLC boosted its stake in shares of Leonardo DRS by 0.7% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 91,527 shares of the company's stock worth $4,254,000 after buying an additional 624 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Leonardo DRS in the 2nd quarter worth approximately $320,000. Finally, Voya Investment Management LLC boosted its stake in shares of Leonardo DRS by 23.5% in the 1st quarter. Voya Investment Management LLC now owns 840,588 shares of the company's stock worth $27,639,000 after buying an additional 160,170 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DRS. Wall Street Zen downgraded Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Morgan Stanley upped their price objective on Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Canaccord Genuity Group initiated coverage on Leonardo DRS in a research note on Monday, August 11th. They issued a "buy" rating and a $50.00 price objective on the stock. Truist Financial upped their price objective on Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their price objective on Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.75.

Insiders Place Their Bets

In other Leonardo DRS news, Director Eric Salzman sold 4,403 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total transaction of $181,271.51. Following the sale, the director owned 11,820 shares in the company, valued at $486,629.40. This represents a 27.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO John Baylouny sold 11,420 shares of the stock in a transaction 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 sale, the chief operating officer owned 114,488 shares in the company, valued at approximately $4,783,308.64. This represents a 9.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,558 shares of company stock worth $1,933,052 over the last 90 days. Corporate insiders own 0.12% of the company's stock.

Leonardo DRS Trading Up 3.7%

NASDAQ:DRS opened at $45.40 on Wednesday. The company has a market cap of $12.08 billion, a P/E ratio of 48.82, a P/E/G ratio of 2.28 and a beta of 0.63. The stock's fifty day moving average price is $42.52 and its two-hundred day moving average price is $41.14. Leonardo DRS, Inc. has a 1 year low of $27.77 and a 1 year 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.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.01. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

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

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.

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