Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Leonardo DRS, Inc. $DRS

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 582,550 shares of the company’s stock, valued at approximately $24,857,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Leonardo DRS by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,717,551 shares of the company’s stock valued at $263,091,000 after acquiring an additional 34,858 shares in the last quarter. BlackRock Inc. acquired a new position in Leonardo DRS in the second quarter worth $212,883,000. State Street Corp boosted its holdings in Leonardo DRS by 4.0% in the fourth quarter. State Street Corp now owns 3,988,403 shares of the company’s stock worth $135,965,000 after purchasing an additional 153,697 shares during the period. AQR Capital Management LLC increased its stake 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 valued at $76,887,000 after purchasing an additional 981,956 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Leonardo DRS by 107.6% during the first quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company’s stock worth $94,308,000 after purchasing an additional 1,098,108 shares during the period. Institutional investors own 18.76% of the company’s stock.

Insiders Place Their Bets

In other Leonardo DRS news, EVP Jason Rinsky sold 3,865 shares of Leonardo DRS stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.87, for a total transaction of $181,152.55. Following the sale, the executive vice president owned 31,310 shares of the company’s stock, valued at $1,467,499.70. The trade was a 10.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Baylouny sold 36,471 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $45.67, for a total value of $1,665,630.57. Following the transaction, the chief executive officer owned 122,435 shares of the company’s stock, valued at $5,591,606.45. This trade represents a 22.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 69,228 shares of company stock worth $3,171,794. 0.25% of the stock is owned by company insiders.

Leonardo DRS Trading Down 4.2%

Shares of NASDAQ:DRS opened at $39.01 on Tuesday. The company has a market cap of $10.41 billion, a PE ratio of 32.78, a P/E/G ratio of 2.48 and a beta of 0.35. The company’s 50-day moving average price is $44.71 and its 200 day moving average price is $44.20. 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 quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Friday, July 31st. The company reported $0.35 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 firm had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $903.27 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Leonardo DRS’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.39 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. Leonardo DRS’s payout ratio is currently 30.25%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DRS. JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Truist Financial raised shares of Leonardo DRS to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Canaccord Genuity Group increased their price target on Leonardo DRS from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Leonardo DRS from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.60.

Leonardo DRS Profile

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.