Madison Asset Management LLC Invests $3.85 Million in Leonardo DRS, Inc. $DRS

Madison Asset Management LLC purchased a new stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 90,165 shares of the company’s stock, valued at approximately $3,847,000.

A number of other large investors have also recently modified their holdings of DRS. Danske Bank A S bought a new position in Leonardo DRS in the second quarter worth approximately $427,000. Meeder Asset Management Inc. bought a new stake in Leonardo DRS during the 2nd quarter valued at $327,000. BlackRock Inc. purchased a new stake in shares of Leonardo DRS in the 2nd quarter worth $212,883,000. Pallas Capital Advisors LLC purchased a new stake in shares of Leonardo DRS in the 2nd quarter worth $309,000. Finally, Deutsche Bank AG bought a new position in shares of Leonardo DRS during the 2nd quarter worth $4,726,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Leonardo DRS

In other Leonardo DRS news, CFO Michael Dippold sold 8,318 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $46.48, for a total transaction of $386,620.64. Following the transaction, the chief financial officer owned 55,460 shares in the company, valued at approximately $2,577,780.80. This represents a 13.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Rinsky sold 3,864 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $45.81, for a total transaction of $177,009.84. Following the sale, the executive vice president directly owned 23,581 shares in the company, valued at $1,080,245.61. This trade represents a 14.08% 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. Insiders have sold 69,228 shares of company stock worth $3,171,794 in the last 90 days. 0.25% of the stock is owned by insiders.

Leonardo DRS Trading Down 3.7%

Shares of NASDAQ:DRS opened at $41.00 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.56. The firm has a market capitalization of $10.94 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.59 and a beta of 0.35. The business’s 50-day moving average is $45.02 and its 200 day moving average is $44.22. Leonardo DRS, Inc. has a 1 year low of $32.43 and a 1 year high of $50.59.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.08. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $903.27 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, research analysts predict that Leonardo DRS, Inc. will post 1.39 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, August 13th. Leonardo DRS’s payout ratio is currently 30.25%.

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.