Globeflex Capital L P Purchases Shares of 93,547 Leonardo DRS, Inc. $DRS

Globeflex Capital L P bought a new position in Leonardo DRS, Inc. (NASDAQ:DRS) in the 2nd quarter, Holdings Channel.com reports. The fund bought 93,547 shares of the company’s stock, valued at approximately $3,992,000.

A number of other institutional investors have also bought and sold shares of DRS. Erste Asset Management GmbH raised its stake in Leonardo DRS by 503.6% during the 4th quarter. Erste Asset Management GmbH now owns 142,750 shares of the company’s stock valued at $4,872,000 after purchasing an additional 119,100 shares during the period. Swedbank AB grew its holdings in 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 buying an additional 87,661 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of Leonardo DRS by 24.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,020,223 shares of the company’s stock valued at $34,779,000 after buying an additional 202,758 shares during the last quarter. AXQ Capital LP lifted its holdings in shares of Leonardo DRS by 301.6% in the fourth quarter. AXQ Capital LP now owns 44,872 shares of the company’s stock worth $1,530,000 after buying an additional 33,699 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Leonardo DRS during the fourth quarter worth $37,481,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $40.70 on Monday. The business has a 50 day simple moving average of $44.86 and a 200-day simple moving average of $44.22. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 34.20, a PEG ratio of 2.48 and a beta of 0.35. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.56. 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 EPS for the quarter, beating the consensus estimate of $0.27 by $0.08. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The company had revenue of $913.00 million for the quarter, compared to the consensus estimate of $903.27 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. Equities analysts forecast 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. Shareholders of record on Thursday, August 13th will be given a $0.09 dividend. 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 30.25%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DRS shares. Canaccord Genuity Group lifted their price target on shares of Leonardo DRS from $52.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Leonardo DRS from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Truist Financial raised Leonardo DRS to a “strong-buy” rating in a report on Friday, May 1st. Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.60.

Insider Transactions at Leonardo DRS

In other news, CEO John Baylouny sold 36,471 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $45.67, for a total value of $1,665,630.57. Following the completion of the sale, the chief executive officer owned 122,435 shares in the company, valued at approximately $5,591,606.45. The trade was a 22.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 8,318 shares of the 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 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 ninety days. Corporate insiders own 0.25% of the company’s stock.

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.