Focus Partners Advisor Solutions LLC Takes $527,000 Position in Leonardo DRS, Inc. $DRS

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the second quarter, Holdings Channel.com reports. The fund purchased 12,347 shares of the company’s stock, valued at approximately $527,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Leonardo DRS in the 2nd quarter worth about $605,000. Oppenheimer Asset Management Inc. purchased a new stake in Leonardo DRS in the 2nd quarter valued at about $386,000. Tema ETFs LLC lifted its position in shares of Leonardo DRS by 140.0% during the 2nd quarter. Tema ETFs LLC now owns 1,776 shares of the company’s stock worth $76,000 after buying an additional 1,036 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Leonardo DRS by 49.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,904 shares of the company’s stock worth $81,000 after buying an additional 633 shares in the last quarter. Finally, Militia Capital Management LLC bought a new position in shares of Leonardo DRS during the 1st quarter worth approximately $2,328,000. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $45.35 on Tuesday. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 2.77 and a beta of 0.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.92. Leonardo DRS, Inc. has a 52 week low of $32.43 and a 52 week high of $50.59. The firm’s 50-day simple moving average is $45.32 and its two-hundred day simple moving average is $44.20.

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

Leonardo DRS Dividend Announcement

The business also recently declared 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 0.8%. The ex-dividend date of this dividend is Thursday, August 13th. Leonardo DRS’s payout ratio is 30.25%.

Wall Street Analyst Weigh In

DRS has been the subject of several recent analyst reports. Canaccord Genuity Group upped their target price on Leonardo DRS from $52.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Truist Financial raised Leonardo DRS to a “strong-buy” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Leonardo DRS from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. JPMorgan Chase & Co. boosted 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. Finally, Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.60.

Insiders Place Their Bets

In other Leonardo DRS news, CEO John Baylouny sold 36,471 shares of the stock in a transaction on 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 directly owned 122,435 shares of the company’s stock, valued at approximately $5,591,606.45. This represents a 22.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Rinsky sold 3,865 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.87, for a total value of $181,152.55. Following the transaction, the executive vice president directly owned 31,310 shares of the company’s stock, valued at approximately $1,467,499.70. This trade represents a 10.99% 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 have sold 69,228 shares of company stock valued at $3,171,794 in the last quarter. 0.25% of the stock is currently owned by company insiders.

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.