Vanguard Group Inc. Increases Holdings in Leonardo DRS, Inc. $DRS

Key Points

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Vanguard Group Inc. raised its position in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 0.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,957,909 shares of the company's stock after acquiring an additional 22,990 shares during the period. Vanguard Group Inc. owned approximately 2.99% of Leonardo DRS worth $261,656,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in shares of Leonardo DRS by 14.8% during the fourth 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 during the last quarter. Bank of Montreal Can boosted its position in shares of Leonardo DRS by 2.1% during the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company's stock valued at $594,000 after buying an additional 379 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Leonardo DRS by 14.2% during the fourth quarter. Legal & General Group Plc now owns 118,777 shares of the company's stock valued at $3,838,000 after buying an additional 14,743 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Leonardo DRS by 214.8% during the fourth quarter. Renaissance Technologies LLC now owns 137,900 shares of the company's stock valued at $4,456,000 after buying an additional 94,100 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Leonardo DRS during the fourth quarter valued at approximately $4,304,000. Institutional investors and hedge funds own 18.76% of the company's stock.

Analyst Upgrades and Downgrades

DRS has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 target price on the stock. Morgan Stanley lifted their target price on Leonardo DRS from $44.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a "buy" rating in a research report on Monday, May 5th. Canaccord Genuity Group initiated coverage on Leonardo DRS in a research report on Monday, August 11th. They set a "buy" rating and a $50.00 target price on the stock. Finally, Wall Street Zen cut Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $46.75.

Insider Buying and Selling at Leonardo DRS

In other news, Director Eric Salzman sold 4,403 shares of Leonardo DRS 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 directly owned 11,820 shares in the company, valued at approximately $486,629.40. The trade was a 27.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.94, for a total value of $295,761.72. Following the completion of the transaction, the director owned 23,882 shares of the company's stock, valued at approximately $1,097,139.08. This trade 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 worth $945,342 over the last ninety days. 0.34% of the stock is currently owned by company insiders.

Leonardo DRS Stock Performance

Leonardo DRS stock traded up $0.15 during mid-day trading on Friday, reaching $41.19. 938,889 shares of the company's stock were exchanged, compared to its average volume of 1,292,916. The business's fifty day simple moving average is $44.61 and its 200 day simple moving average is $39.06. The firm has a market capitalization of $10.96 billion, a PE ratio of 44.29, a P/E/G ratio of 2.14 and a beta of 0.65. Leonardo DRS, Inc. has a one year low of $26.00 and a one year high of $49.31. 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 (NASDAQ:DRS - Get Free Report) last issued 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 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%.Leonardo DRS's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Leonardo DRS's payout ratio is presently 38.71%.

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.