Rhumbline Advisers Decreases Stock Position in Leonardo DRS, Inc. $DRS

Rhumbline Advisers decreased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 32.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 69,396 shares of the company’s stock after selling 33,083 shares during the period. Rhumbline Advisers’ holdings in Leonardo DRS were worth $3,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Leonardo DRS by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company’s stock worth $261,656,000 after purchasing an additional 22,990 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Leonardo DRS by 16.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company’s stock worth $192,298,000 after buying an additional 804,938 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Leonardo DRS by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company’s stock valued at $36,066,000 after buying an additional 8,516 shares during the last quarter. Nuveen LLC acquired a new position in shares of Leonardo DRS in the 1st quarter valued at $31,254,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Leonardo DRS by 1.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 894,122 shares of the company’s stock worth $29,399,000 after acquiring an additional 13,911 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Michael Dippold sold 19,360 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $41.65, for a total transaction of $806,344.00. Following the sale, the chief financial officer directly owned 58,834 shares in the company, valued at $2,450,436.10. This trade represents a 24.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Baylouny sold 8,481 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $43.69, for a total value of $370,534.89. Following the completion of the transaction, the chief operating officer directly owned 106,007 shares of the company’s stock, valued at $4,631,445.83. The trade was a 7.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 39,261 shares of company stock worth $1,654,006. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DRS shares. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price objective on shares of Leonardo DRS in a report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Leonardo DRS in a report on Thursday. Zacks Research lowered shares of Leonardo DRS from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Truist Financial dropped their price objective on shares of Leonardo DRS from $49.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.14.

Leonardo DRS Trading Down 1.2%

Leonardo DRS stock opened at $33.90 on Friday. The firm has a market cap of $9.02 billion, a PE ratio of 34.59, a P/E/G ratio of 1.94 and a beta of 0.50. Leonardo DRS, Inc. has a 12 month low of $28.17 and a 12 month high of $49.31. The stock’s 50 day simple moving average is $38.13 and its two-hundred day simple moving average is $41.69. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.12.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.37%. The firm had revenue of $960.00 million during the quarter, compared to analyst estimates of $924.79 million. During the same period in the previous year, the firm earned $0.24 EPS. The business’s quarterly revenue was up 18.2% on a year-over-year basis. Leonardo DRS has set its FY 2025 guidance at 1.070-1.120 EPS. Analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th were given a $0.09 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.1%. Leonardo DRS’s dividend payout ratio is 36.73%.

About Leonardo DRS

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.