Globeflex Capital L P Buys New Position in Leonardo DRS, Inc. $DRS

Globeflex Capital L P purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 93,547 shares of the company’s stock, valued at approximately $3,992,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Leonardo DRS by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 7,717,551 shares of the company’s stock valued at $263,091,000 after purchasing an additional 34,858 shares in the last quarter. BlackRock Inc. bought a new position in shares of Leonardo DRS in the second quarter valued at approximately $212,883,000. State Street Corp lifted its stake in Leonardo DRS by 4.0% during the 4th quarter. State Street Corp now owns 3,988,403 shares of the company’s stock valued at $135,965,000 after acquiring an additional 153,697 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Leonardo DRS by 77.1% during 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. Finally, Stephens Investment Management Group LLC boosted its stake in shares of Leonardo DRS by 107.6% in the 1st quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company’s stock worth $94,308,000 after buying an additional 1,098,108 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DRS shares. Truist Financial raised shares of Leonardo DRS to a “strong-buy” rating in a research report on Friday, May 1st. Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Canaccord Genuity Group upped their target price on shares of Leonardo DRS from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Leonardo DRS from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.60.

Leonardo DRS Price Performance

Shares of DRS opened at $40.70 on Monday. Leonardo DRS, Inc. has a fifty-two week low of $32.43 and a fifty-two week high of $50.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.92. The stock has a market cap of $10.86 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 2.48 and a beta of 0.35. The firm’s 50-day simple moving average is $44.86 and its two-hundred day simple moving average is $44.22.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The business had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $903.27 million. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. Analysts anticipate that Leonardo DRS, Inc. will post 1.39 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Leonardo DRS’s dividend payout ratio (DPR) is presently 30.25%.

Insiders Place Their Bets

In other Leonardo DRS news, EVP Sally Wallace sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $50.00, for a total transaction of $65,000.00. Following the transaction, the executive vice president owned 57,053 shares in the company, valued at approximately $2,852,650. This represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Rinsky sold 3,865 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.87, for a total transaction of $181,152.55. Following the transaction, the executive vice president owned 31,310 shares in the company, valued at approximately $1,467,499.70. This trade represents a 10.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 69,228 shares of company stock worth $3,171,794 in the last quarter. Insiders own 0.25% of the company’s stock.

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.