PDT Partners LLC Makes New $3.15 Million Investment in Leonardo DRS, Inc. $DRS

PDT Partners LLC acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 73,886 shares of the company’s stock, valued at approximately $3,153,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DRS. Global Retirement Partners LLC bought a new stake in Leonardo DRS during the second quarter worth $31,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Leonardo DRS during the 2nd quarter valued at $32,000. Quarry LP increased its position in shares of 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 last quarter. Fifth Third Bancorp bought a new stake in shares of Leonardo DRS during the 1st quarter worth $41,000. Finally, Leonteq Securities AG purchased a new position in shares of Leonardo DRS in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Insider Buying and Selling

In other news, CFO Michael Dippold sold 8,318 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $46.48, for a total transaction of $386,620.64. Following the sale, the chief financial officer directly owned 55,460 shares in the company, valued at $2,577,780.80. This represents a 13.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sally Wallace sold 1,300 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $65,000.00. Following the completion of the sale, the executive vice president directly owned 57,053 shares in the company, valued at approximately $2,852,650. The trade was a 2.23% decrease in their ownership of the stock. 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 quarter, insiders sold 57,683 shares of company stock worth $2,650,769. Company insiders own 0.25% of the company’s stock.

Leonardo DRS Stock Up 1.2%

DRS opened at $38.60 on Thursday. The company has a 50 day moving average of $44.40 and a 200 day moving average of $44.21. The company has a market cap of $10.30 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 2.32 and a beta of 0.35. Leonardo DRS, Inc. has a 12 month low of $32.43 and a 12 month high of $50.59. 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 (NASDAQ:DRS) last issued 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. 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 for the quarter, compared to analysts’ expectations of $903.27 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Leonardo DRS, Inc. will post 1.39 EPS for the current year.

Leonardo DRS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be paid a dividend of $0.09 per share. 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 payout ratio is presently 30.25%.

Analysts Set New Price Targets

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

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.