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

Madison Asset Management LLC acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS) during the 2nd quarter, HoldingsChannel reports. The fund acquired 90,165 shares of the company’s stock, valued at approximately $3,847,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP raised its stake in shares of Leonardo DRS by 7,041.7% during the 4th quarter. Quarry LP now owns 857 shares of the company’s stock worth $29,000 after buying an additional 845 shares during the period. Global Retirement Partners LLC purchased a new position in Leonardo DRS during the second quarter valued at $31,000. Leonteq Securities AG acquired a new stake in shares of Leonardo DRS in the fourth quarter valued at about $34,000. Fifth Third Bancorp purchased a new stake in shares of Leonardo DRS during the first quarter worth about $41,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Leonardo DRS by 324.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,362 shares of the company’s stock worth $46,000 after purchasing an additional 1,041 shares in the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on DRS. 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. Weiss Ratings raised Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Truist Financial upgraded Leonardo DRS to a “strong-buy” rating in a research report on Friday, May 1st. Canaccord Genuity Group lifted their price target on Leonardo DRS from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded Leonardo DRS from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.60.

Leonardo DRS Price Performance

NASDAQ:DRS opened at $41.00 on Friday. Leonardo DRS, Inc. has a one year low of $32.43 and a one year high of $50.59. The stock has a market cap of $10.94 billion, a PE ratio of 34.45, a P/E/G ratio of 2.59 and a beta of 0.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.92. The stock has a 50 day moving average price of $45.02 and a 200 day moving average price of $44.22.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data 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. The company had revenue of $913.00 million for the quarter, compared to analyst estimates of $903.27 million. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. Equities research analysts expect that Leonardo DRS, Inc. will post 1.39 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th will be given 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 payout ratio is presently 30.25%.

Insider Activity

In other Leonardo DRS news, SVP Pamela Morrow sold 11,545 shares of Leonardo DRS stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $45.13, for a total transaction of $521,025.85. Following the transaction, the senior vice president directly owned 10,551 shares of the company’s stock, valued at $476,166.63. The trade was a 52.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Dippold sold 8,318 shares of Leonardo DRS stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $46.48, for a total transaction of $386,620.64. Following the transaction, the chief financial officer directly owned 55,460 shares in the company, valued at $2,577,780.80. This trade represents a 13.04% 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. In the last 90 days, insiders have sold 69,228 shares of company stock worth $3,171,794. Insiders own 0.25% of the company’s stock.

About Leonardo DRS

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.