First Eagle Investment Management LLC Trims Stake in Leonardo DRS, Inc. $DRS

First Eagle Investment Management LLC lowered its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 56.8% in the 2nd quarter, Holdings Channel reports. The fund owned 84,685 shares of the company’s stock after selling 111,200 shares during the quarter. First Eagle Investment Management LLC’s holdings in Leonardo DRS were worth $3,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DRS. Envestnet Asset Management Inc. lifted its position in Leonardo DRS by 5.6% during the first quarter. Envestnet Asset Management Inc. now owns 35,121 shares of the company’s stock valued at $1,155,000 after buying an additional 1,855 shares during the period. Nisa Investment Advisors LLC increased its stake 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 worth $42,000 after acquiring an additional 611 shares in the last quarter. CWM LLC increased its stake in shares of Leonardo DRS by 147.1% in the 1st quarter. CWM LLC now owns 5,518 shares of the company’s stock worth $181,000 after acquiring an additional 3,285 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Leonardo DRS by 80.9% during the first quarter. Victory Capital Management Inc. now owns 106,864 shares of the company’s stock worth $3,514,000 after acquiring an additional 47,796 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Leonardo DRS by 28.3% in the first quarter. Verdence Capital Advisors LLC now owns 11,042 shares of the company’s stock worth $363,000 after purchasing an additional 2,437 shares during the period. 18.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Eric Salzman sold 4,403 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $181,271.51. Following the transaction, the director directly owned 11,820 shares in the company, valued at $486,629.40. This trade represents a 27.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO John Baylouny sold 11,420 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $41.78, for a total value of $477,127.60. Following the sale, the chief operating officer owned 114,488 shares of the company’s stock, valued at approximately $4,783,308.64. This trade represents a 9.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 55,039 shares of company stock valued at $2,303,587 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

Leonardo DRS Price Performance

Shares of NASDAQ:DRS opened at $35.33 on Friday. 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 firm has a market cap of $9.40 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 2.02 and a beta of 0.56. The business has a 50-day simple moving average of $41.26 and a two-hundred day simple moving average of $42.52. Leonardo DRS, Inc. has a fifty-two week low of $28.17 and a fifty-two week high of $49.31.

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

Leonardo DRS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, November 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Leonardo DRS’s payout ratio is currently 36.73%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DRS shares. Truist Financial lowered their target price on shares of Leonardo DRS from $49.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Morgan Stanley lifted their price objective on Leonardo DRS from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Zacks Research cut Leonardo DRS from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $50.00 price target on shares of Leonardo DRS in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Leonardo DRS in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.14.

About Leonardo DRS

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.