Leonardo DRS, Inc. $DRS Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 11.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,536,024 shares of the company’s stock after selling 201,493 shares during the quarter. Van ECK Associates Corp’s holdings in Leonardo DRS were worth $65,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ruggaard & Associates LLC acquired a new position in Leonardo DRS during the 2nd quarter valued at about $213,000. Equitable Holdings Inc. acquired a new stake in Leonardo DRS in the second quarter worth about $337,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Leonardo DRS during the second quarter worth about $929,000. Corient Private Wealth LP purchased a new stake in shares of Leonardo DRS during the second quarter worth about $843,000. Finally, Bank of America Corp DE acquired a new position in shares of Leonardo DRS during the second quarter valued at about $24,941,000. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DRS has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on shares of Leonardo DRS from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Leonardo DRS from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Leonardo DRS from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.60.

Leonardo DRS Stock Down 1.0%

Shares of DRS stock opened at $38.54 on Friday. The stock’s 50-day simple moving average is $44.10 and its 200-day simple moving average is $44.17. 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 firm has a market capitalization of $10.29 billion, a PE ratio of 32.39, a P/E/G ratio of 2.35 and a beta of 0.35. Leonardo DRS, Inc. has a fifty-two week low of $32.43 and a fifty-two week high of $50.59.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.08. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The firm had revenue of $913.00 million during the quarter, compared to analysts’ expectations of $903.27 million. During the same period last year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts expect that Leonardo DRS, Inc. will post 1.39 earnings per share for the current year.

Leonardo DRS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.9%. Leonardo DRS’s dividend payout ratio (DPR) is currently 30.25%.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, CEO John Baylouny sold 36,471 shares of Leonardo DRS stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $45.67, for a total transaction 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 approximately $5,591,606.45. The trade was a 22.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 8,318 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $46.48, for a total transaction of $386,620.64. Following the completion of the sale, 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. Over the last quarter, insiders sold 57,683 shares of company stock valued at $2,650,769. 0.25% of the stock is owned by corporate insiders.

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.