Insider Selling: Leonardo DRS (NASDAQ:DRS) CFO Sells 20,317 Shares

Key Points

• Leonardo DRS CFO Michael Dippold sold 20,317 shares at an average price of $37.18, generating approximately $755,386. The Rule 10b5-1 transaction reduced his holdings by 36.63% to 35,143 shares.
• Leonardo DRS reported quarterly EPS of $0.35, beating estimates of $0.27, while revenue rose 10.1% year over year to $913 million. The company also maintains a $0.09 quarterly dividend, equivalent to a 1.0% annual yield.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $53.60, compared with the stock’s reported opening price of $37.02.

Leonardo DRS, Inc. (NASDAQ:DRS - Get Free Report) CFO Michael Dippold sold 20,317 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $37.18, for a total value of $755,386.06. Following the completion of the transaction, the chief financial officer owned 35,143 shares in the company, valued at $1,306,616.74. The trade was a 36.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Dippold also recently made the following trade(s):

• On Monday, June 8th, Michael Dippold sold 8,318 shares of Leonardo DRS stock. The stock was sold at an average price of $46.48, for a total transaction of $386,620.64.

Leonardo DRS Price Performance

DRS stock opened at $37.02 on Friday. The company's 50-day moving average price is $43.50 and its two-hundred day moving average price is $44.18. The firm has a market cap of $9.88 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.25 and a beta of 0.35. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. Leonardo DRS, Inc. has a 12 month low of $32.43 and a 12 month high of $50.59.

Leonardo DRS (NASDAQ:DRS - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $903.27 million. During the same quarter last year, the business posted $0.23 EPS. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts anticipate that Leonardo DRS, Inc. will post 1.39 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 13th. Leonardo DRS's dividend payout ratio (DPR) is presently 30.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Leonardo DRS by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 7,717,551 shares of the company's stock valued at $263,091,000 after buying an additional 34,858 shares during the period. BlackRock Inc. acquired a new position in Leonardo DRS during the second quarter worth $212,883,000. State Street Corp increased its position in shares of Leonardo DRS by 4.0% during the fourth quarter. State Street Corp now owns 3,988,403 shares of the company's stock worth $135,965,000 after acquiring an additional 153,697 shares in the last quarter. California State Teachers Retirement System lifted its position in Leonardo DRS by 3,937.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,940,831 shares of the company's stock valued at $168,155,000 after acquiring an additional 3,843,233 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Leonardo DRS by 77.1% in the fourth quarter. AQR Capital Management LLC now owns 2,255,400 shares of the company's stock worth $76,887,000 after purchasing an additional 981,956 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Leonardo DRS from a "hold" rating to a "buy" rating in a research report on Sunday, May 10th. JPMorgan Chase & Co. boosted their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised Leonardo DRS from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.60.

About Leonardo DRS

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy's Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company's portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.

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