Sigma Planning Corp Makes New Investment in Leonardo DRS, Inc. $DRS

Sigma Planning Corp acquired a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,454 shares of the company’s stock, valued at approximately $873,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Erste Asset Management GmbH lifted its holdings in Leonardo DRS by 503.6% in the 4th quarter. Erste Asset Management GmbH now owns 142,750 shares of the company’s stock worth $4,872,000 after buying an additional 119,100 shares during the period. Swedbank AB increased its stake in shares of Leonardo DRS by 1,026.0% during the fourth quarter. Swedbank AB now owns 96,205 shares of the company’s stock valued at $3,280,000 after buying an additional 87,661 shares during the period. Stephens Investment Management Group LLC boosted its holdings in Leonardo DRS by 24.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,020,223 shares of the company’s stock valued at $34,779,000 after acquiring an additional 202,758 shares in the last quarter. BlackRock Inc. purchased a new position in Leonardo DRS during the 2nd quarter valued at $212,883,000. Finally, AXQ Capital LP increased its position in Leonardo DRS by 301.6% during the 4th quarter. AXQ Capital LP now owns 44,872 shares of the company’s stock valued at $1,530,000 after purchasing an additional 33,699 shares during the period. 18.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DRS shares. Wall Street Zen raised shares of Leonardo DRS from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. JPMorgan Chase & Co. raised their price objective 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. Weiss Ratings raised Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group increased their target price on Leonardo DRS from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.60.

Leonardo DRS Stock Down 0.8%

Shares of Leonardo DRS stock opened at $37.70 on Wednesday. Leonardo DRS, Inc. has a 1 year low of $32.43 and a 1 year high of $50.59. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 2.31 and a beta of 0.35. The company has a 50-day moving average of $43.80 and a 200 day moving average of $44.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.56.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Leonardo DRS had a net margin of 8.52% and a return on equity of 12.97%. The business had revenue of $913.00 million for the quarter, compared to analyst estimates of $903.27 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Leonardo DRS’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Leonardo DRS, Inc. will post 1.39 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 13th. Leonardo DRS’s dividend payout ratio (DPR) is 30.25%.

Insider Buying and Selling

In other news, EVP Jason Rinsky sold 3,865 shares of Leonardo DRS stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $45.37, for a total value of $175,355.05. Following the completion of the transaction, the executive vice president owned 27,445 shares of the company’s stock, valued at $1,245,179.65. The trade was a 12.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sally Wallace sold 1,300 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $50.00, for a total transaction of $65,000.00. Following the completion of the transaction, the executive vice president owned 57,053 shares in the company, valued at approximately $2,852,650. The trade was a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 53,818 shares of company stock worth $2,469,616 over the last three months. 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.