Headlands Technologies LLC Acquires New Holdings in Leonardo DRS, Inc. $DRS

Headlands Technologies LLC bought a new position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) during the second quarter, Holdings Channel reports. The fund bought 19,380 shares of the company’s stock, valued at approximately $827,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can grew its position in shares of Leonardo DRS by 1.6% during the 4th quarter. Bank of Montreal Can now owns 19,513 shares of the company’s stock valued at $665,000 after purchasing an additional 309 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Leonardo DRS by 4.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,228 shares of the company’s stock valued at $246,000 after buying an additional 322 shares during the period. Osaic Holdings Inc. grew its position in Leonardo DRS by 17.0% during the second quarter. Osaic Holdings Inc. now owns 2,383 shares of the company’s stock worth $111,000 after buying an additional 347 shares in the last quarter. Stephens Inc. AR increased its stake in Leonardo DRS by 3.3% in the 4th quarter. Stephens Inc. AR now owns 12,165 shares of the company’s stock worth $415,000 after acquiring an additional 389 shares during the last quarter. Finally, Cibc World Market Inc. increased its stake in Leonardo DRS by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 7,128 shares of the company’s stock worth $243,000 after acquiring an additional 425 shares during the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DRS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings upgraded 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 raised shares of Leonardo DRS from a “hold” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Canaccord Genuity Group increased their price target on shares of Leonardo DRS from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.60.

Leonardo DRS Price Performance

Shares of Leonardo DRS stock opened at $37.70 on Wednesday. The company has a current ratio of 1.92, a quick ratio of 1.56 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $10.06 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 2.31 and a beta of 0.35. The business’s 50-day moving average price is $43.80 and its 200-day moving average price is $44.19. Leonardo DRS, Inc. has a 12 month low of $32.43 and a 12 month high of $50.59.

Leonardo DRS (NASDAQ:DRS) last released its earnings results 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 during the quarter, compared to the consensus estimate of $903.27 million. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.Leonardo DRS’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. Sell-side analysts forecast that Leonardo DRS, Inc. will post 1.39 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 13th. Leonardo DRS’s payout ratio is presently 30.25%.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, EVP Sally Wallace sold 1,300 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $50.00, for a total value of $65,000.00. Following the completion of the sale, the executive vice president directly owned 57,053 shares of the company’s stock, valued at $2,852,650. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jason Rinsky sold 3,864 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $45.81, for a total value of $177,009.84. Following the transaction, the executive vice president directly owned 23,581 shares in the company, valued at $1,080,245.61. This trade represents a 14.08% 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. Insiders sold a total of 53,818 shares of company stock worth $2,469,616 over the last 90 days. Company insiders own 0.25% of the company’s stock.

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.