PDT Partners LLC Purchases Shares of 73,886 Leonardo DRS, Inc. $DRS

PDT Partners LLC purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 73,886 shares of the company’s stock, valued at approximately $3,153,000.

A number of other hedge funds also recently made changes to their positions in the stock. Quarry LP increased its position in Leonardo DRS by 7,041.7% during the 4th quarter. Quarry LP now owns 857 shares of the company’s stock valued at $29,000 after purchasing an additional 845 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Leonardo DRS in the 2nd quarter worth approximately $31,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Leonardo DRS in the 2nd quarter valued at $32,000. Leonteq Securities AG acquired a new stake in shares of Leonardo DRS during the fourth quarter worth $34,000. Finally, Fifth Third Bancorp bought a new position in Leonardo DRS during the first quarter worth $41,000. 18.76% of the stock is currently owned by institutional investors.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS opened at $38.60 on Thursday. Leonardo DRS, Inc. has a twelve month low of $32.43 and a twelve month high of $50.59. The stock’s 50 day moving average is $44.40 and its 200-day moving average is $44.21. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $10.30 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 2.32 and a beta of 0.35.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $903.27 million. During the same quarter in the previous year, the business posted $0.23 EPS. Leonardo DRS’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts forecast that Leonardo DRS, Inc. will post 1.39 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, CEO John Baylouny sold 36,471 shares of Leonardo DRS stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $45.67, for a total transaction of $1,665,630.57. Following the completion of the transaction, the chief executive officer owned 122,435 shares in the company, valued at approximately $5,591,606.45. The trade was a 22.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 8,318 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $46.48, for a total value of $386,620.64. Following the sale, the chief financial officer directly owned 55,460 shares of the company’s stock, valued at $2,577,780.80. This represents a 13.04% decrease in their ownership of the stock. 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 sold a total of 57,683 shares of company stock worth $2,650,769 in the last quarter. 0.25% of the stock is owned by insiders.

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.