Leonardo DRS, Inc. $DRS Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 35.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,748 shares of the company’s stock after selling 12,283 shares during the period. Jennison Associates LLC’s holdings in Leonardo DRS were worth $1,057,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Hsbc Holdings PLC increased its position in shares of Leonardo DRS by 4.0% in the first quarter. Hsbc Holdings PLC now owns 9,191 shares of the company’s stock worth $298,000 after acquiring an additional 357 shares in the last quarter. Total Clarity Wealth Management Inc. increased its position in shares of Leonardo DRS by 7.7% in the second quarter. Total Clarity Wealth Management Inc. now owns 7,169 shares of the company’s stock worth $333,000 after acquiring an additional 514 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Leonardo DRS in the second quarter worth $26,000. Nisa Investment Advisors LLC grew its holdings in Leonardo DRS by 92.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company’s stock valued at $42,000 after purchasing an additional 611 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its holdings in Leonardo DRS by 0.7% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 91,527 shares of the company’s stock valued at $4,254,000 after purchasing an additional 624 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Insider Activity

In other news, CFO Michael Dippold sold 19,360 shares of Leonardo DRS stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $41.65, for a total value of $806,344.00. Following the completion of the transaction, the chief financial officer directly owned 58,834 shares of the company’s stock, valued at approximately $2,450,436.10. The trade was a 24.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Eric Salzman sold 4,403 shares of Leonardo DRS stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total transaction of $181,271.51. Following the completion of the transaction, the director directly owned 11,820 shares of the company’s stock, valued at $486,629.40. This trade represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 55,039 shares of company stock valued at $2,303,587. Company insiders own 0.34% of the company’s stock.

Leonardo DRS Price Performance

Shares of DRS stock opened at $36.56 on Friday. The firm has a market cap of $9.73 billion, a P/E ratio of 37.31, a P/E/G ratio of 2.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. Leonardo DRS, Inc. has a 1-year low of $28.17 and a 1-year high of $49.31. The firm has a fifty day moving average of $41.86 and a two-hundred day moving average of $42.52.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The company had revenue of $960.00 million during the quarter, compared to analyst estimates of $924.79 million. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.45%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. Leonardo DRS has set its FY 2025 guidance at 1.070-1.120 EPS. As a group, research analysts anticipate that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Leonardo DRS’s payout ratio is 38.71%.

Analysts Set New Price Targets

DRS has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Leonardo DRS in a report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $50.00 price target on shares of Leonardo DRS in a report on Thursday. Truist Financial lowered their price target on shares of Leonardo DRS from $49.00 to $47.00 and set a “buy” rating for the company in a report on Thursday. Finally, Zacks Research lowered shares of Leonardo DRS from a “strong-buy” rating to a “hold” rating in a report on Thursday. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Leonardo DRS presently has a consensus rating of “Moderate Buy” and an average price target of $47.14.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.