Victory Capital Management Inc. Increases Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Victory Capital Management Inc. boosted its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 80.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,864 shares of the company's stock after purchasing an additional 47,796 shares during the quarter. Victory Capital Management Inc.'s holdings in Leonardo DRS were worth $3,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in shares of Leonardo DRS by 92.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company's stock valued at $42,000 after buying an additional 611 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in Leonardo DRS in the first quarter valued at $46,000. Virtus Fund Advisers LLC purchased a new stake in Leonardo DRS during the fourth quarter valued at about $116,000. CWM LLC grew its position in Leonardo DRS by 147.1% during the first quarter. CWM LLC now owns 5,518 shares of the company's stock valued at $181,000 after acquiring an additional 3,285 shares during the period. Finally, Mariner LLC acquired a new stake in Leonardo DRS during the fourth quarter worth about $222,000. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David W. Carey sold 6,438 shares of the stock in a transaction dated Friday, June 13th. The stock was 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 represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.12% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BTIG Research set a $49.00 price objective on Leonardo DRS and gave the company a "buy" rating in a research note on Monday, May 5th. The Goldman Sachs Group assumed coverage on shares of Leonardo DRS in a research report on Monday, June 30th. They set a "buy" rating and a $49.00 price target on the stock. Morgan Stanley increased their price objective on shares of Leonardo DRS from $34.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Truist Financial upped their price target on shares of Leonardo DRS from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.86.

Leonardo DRS Stock Up 2.1%

Shares of NASDAQ:DRS opened at $48.44 on Monday. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 55.68, a price-to-earnings-growth ratio of 2.81 and a beta of 0.63. The company has a 50 day moving average of $44.91 and a two-hundred day moving average of $38.14. Leonardo DRS, Inc. has a 52-week low of $22.73 and a 52-week high of $49.09. The company has a quick ratio of 1.64, a current ratio of 2.02 and a debt-to-equity ratio of 0.13.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Leonardo DRS had a net margin of 7.00% and a return on equity of 10.63%. The business had revenue of $799.00 million during the quarter, compared to the consensus estimate of $736.72 million. During the same period in the prior year, the firm earned $0.14 earnings per share. The business's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.74%. Leonardo DRS's dividend payout ratio is presently 41.38%.

Leonardo DRS Company 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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