Deutsche Bank AG Buys New Position in Leonardo DRS, Inc. $DRS

Deutsche Bank AG purchased a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 110,755 shares of the company’s stock, valued at approximately $4,726,000.

Several other large investors also recently bought and sold shares of DRS. Erste Asset Management GmbH grew its holdings 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 in the last quarter. Swedbank AB grew its stake in shares of Leonardo DRS by 1,026.0% during the fourth 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 in the last quarter. Stephens Investment Management Group LLC increased 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 worth $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 fourth quarter. AXQ Capital LP now owns 44,872 shares of the company’s stock worth $1,530,000 after acquiring an additional 33,699 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Leonardo DRS in the fourth quarter worth about $37,481,000. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Down 2.2%

Shares of NASDAQ:DRS opened at $38.16 on Wednesday. The company’s fifty day moving average is $44.56 and its two-hundred day moving average is $44.20. 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 1-year low of $32.43 and a 1-year high of $50.59. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 2.37 and a beta of 0.35.

Leonardo DRS (NASDAQ:DRS) last posted 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. The business had revenue of $913.00 million during the quarter, compared to analyst estimates of $903.27 million. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. Equities analysts anticipate that Leonardo DRS, Inc. will post 1.39 EPS for the current year.

Leonardo DRS Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Sally Wallace sold 1,300 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 57,053 shares in the company, valued at $2,852,650. The trade was a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $1,665,630.57. Following the completion of the sale, the chief executive officer directly owned 122,435 shares in the company, valued at $5,591,606.45. This represents a 22.95% 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 a total of 57,683 shares of company stock valued at $2,650,769 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

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

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.