204,000 Shares in Leonardo DRS, Inc. $DRS Purchased by Ieq Capital LLC

Ieq Capital LLC acquired a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 204,000 shares of the company’s stock, valued at approximately $8,705,000.

A number of other large investors also recently added to or reduced their stakes in the business. Erste Asset Management GmbH boosted its stake in Leonardo DRS by 503.6% in the fourth quarter. Erste Asset Management GmbH now owns 142,750 shares of the company’s stock valued at $4,872,000 after acquiring an additional 119,100 shares during the last quarter. Swedbank AB raised its position in shares of Leonardo DRS by 1,026.0% during the 4th quarter. Swedbank AB now owns 96,205 shares of the company’s stock valued at $3,280,000 after acquiring an additional 87,661 shares during the last quarter. Stephens Investment Management Group LLC raised its position in shares of Leonardo DRS by 24.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,020,223 shares of the company’s stock valued at $34,779,000 after acquiring an additional 202,758 shares during the last quarter. AXQ Capital LP lifted its stake in shares of Leonardo DRS by 301.6% in the 4th quarter. AXQ Capital LP now owns 44,872 shares of the company’s stock valued at $1,530,000 after purchasing an additional 33,699 shares during the period. Finally, Norges Bank acquired a new position in shares of Leonardo DRS in the 4th quarter valued at $37,481,000. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Leonardo DRS news, CFO Michael Dippold sold 8,318 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $46.48, for a total value of $386,620.64. Following the completion of the sale, the chief financial officer owned 55,460 shares in the company, valued at $2,577,780.80. This trade represents a 13.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Baylouny sold 36,471 shares of Leonardo DRS stock in a transaction dated Thursday, June 18th. The shares were 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 directly owned 122,435 shares of the company’s stock, valued at approximately $5,591,606.45. This trade represents a 22.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 69,228 shares of company stock valued at $3,171,794. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

DRS has been the topic of several recent research reports. Canaccord Genuity Group raised 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. Truist Financial upgraded Leonardo DRS to a “strong-buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 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 analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.60.

Leonardo DRS Price Performance

Shares of NASDAQ DRS opened at $40.70 on Monday. The company has a fifty day moving average price of $44.86 and a 200 day moving average price of $44.22. The firm has a market cap of $10.86 billion, a PE ratio of 34.20, a PEG ratio of 2.48 and a beta of 0.35. The company has a current ratio of 1.92, a quick ratio of 1.56 and a debt-to-equity ratio of 0.05. Leonardo DRS, Inc. has a 1-year low of $32.43 and a 1-year high of $50.59.

Leonardo DRS (NASDAQ:DRS) last announced its earnings results 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 for the quarter, compared to analyst estimates of $903.27 million. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.Leonardo DRS’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. Research analysts predict that Leonardo DRS, Inc. will post 1.39 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The company 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 dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, August 13th. Leonardo DRS’s payout ratio is presently 30.25%.

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.