Voya Investment Management LLC Increases Stake in Leonardo DRS, Inc. $DRS

Key Points

• Voya Investment Management LLC increased its stake in Leonardo DRS, Inc. by 23.5%, owning approximately 840,588 shares, worth about $27.6 million.
• Analysts have set new price targets for Leonardo DRS, with Morgan Stanley raising it to $47.00 and JPMorgan Chase increasing it to $48.00, while maintaining an overall "Moderate Buy" rating for the stock.
• Leonardo DRS reported a revenue of $829 million for the last quarter, exceeding analyst estimates and achieving a 10.1% year-over-year growth.

Voya Investment Management LLC boosted its holdings in Leonardo DRS, Inc. (NASDAQ:DRS - Free Report) by 23.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 840,588 shares of the company's stock after buying an additional 160,170 shares during the period. Voya Investment Management LLC owned approximately 0.32% of Leonardo DRS worth $27,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Militia Capital Partners LP purchased a new position in Leonardo DRS in the 1st quarter valued at approximately $263,000. Rhumbline Advisers grew its stake in Leonardo DRS by 5.7% in the 1st quarter. Rhumbline Advisers now owns 102,479 shares of the company's stock valued at $3,369,000 after buying an additional 5,561 shares in the last quarter. Strs Ohio purchased a new position in Leonardo DRS in the 1st quarter valued at approximately $888,000. Acadian Asset Management LLC purchased a new position in Leonardo DRS in the 1st quarter valued at approximately $225,000. Finally, Intech Investment Management LLC grew its stake in Leonardo DRS by 18.6% in the 1st quarter. Intech Investment Management LLC now owns 48,560 shares of the company's stock valued at $1,597,000 after buying an additional 7,625 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DRS. Canaccord Genuity Group began coverage on shares of Leonardo DRS in a research note on Monday, August 11th. They issued a "buy" rating and a $50.00 price objective for the company. Wall Street Zen lowered shares of Leonardo DRS from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. boosted their price target on shares of Leonardo DRS from $33.00 to $48.00 and gave the company a "neutral" rating in a research report on Monday, June 16th. Truist Financial boosted their price target on shares of Leonardo DRS from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, The Goldman Sachs Group began 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 for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.75.

Leonardo DRS Trading Down 2.7%

Leonardo DRS stock traded down $1.14 during mid-day trading on Friday, hitting $41.44. The company's stock had a trading volume of 2,145,888 shares, compared to its average volume of 854,125. 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 cap of $11.03 billion, a price-to-earnings ratio of 44.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.63. The business has a 50 day moving average price of $43.10 and a 200-day moving average price of $40.48. Leonardo DRS, Inc. has a 12 month low of $26.75 and a 12 month high of $49.31.

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

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 20th. Leonardo DRS's dividend payout ratio is 38.71%.

Insider Activity

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

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.