Caitong International Asset Management Co. Ltd Takes $26,000 Position in Leonardo DRS, Inc. $DRS

Caitong International Asset Management Co. Ltd acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 553 shares of the company’s stock, valued at approximately $26,000.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in shares of Leonardo DRS by 92.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company’s stock valued at $42,000 after acquiring an additional 611 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Leonardo DRS in the 1st quarter valued at $50,000. Twin Tree Management LP purchased a new stake in Leonardo DRS during the first quarter worth $58,000. Rice Partnership LLC purchased a new stake in Leonardo DRS during the second quarter worth $202,000. Finally, Highland Capital Management LLC purchased a new stake in Leonardo DRS during the second quarter worth $206,000. 18.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DRS has been the topic of a number of recent analyst reports. Truist Financial increased their price target on shares of Leonardo DRS from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Leonardo DRS in a report on Saturday. The Goldman Sachs Group initiated coverage on shares of Leonardo DRS in a report on Monday, June 30th. They set a “buy” rating and a $49.00 price target on the stock. Zacks Research raised shares of Leonardo DRS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Finally, Morgan Stanley increased their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.75.

Leonardo DRS Stock Performance

NASDAQ:DRS opened at $40.51 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11. The company has a fifty day moving average of $42.16 and a two-hundred day moving average of $42.40. The stock has a market capitalization of $10.78 billion, a PE ratio of 43.56, a P/E/G ratio of 2.11 and a beta of 0.56. Leonardo DRS, Inc. has a fifty-two week low of $27.87 and a fifty-two week high of $49.31.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, research analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, August 20th. Leonardo DRS’s dividend payout ratio is 38.71%.

Insider Activity

In other news, CFO Michael Dippold sold 19,360 shares of the 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 sale, the chief financial officer directly owned 58,834 shares in the company, valued at $2,450,436.10. This represents a 24.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Salzman sold 4,403 shares of the 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 sale, the director 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 can be found here. Insiders sold 55,039 shares of company stock worth $2,303,587 over the last three months. Insiders own 0.34% of the company’s stock.

Leonardo DRS 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.