Leonardo DRS, Inc. $DRS Position Trimmed by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in Leonardo DRS, Inc. (NASDAQ:DRS) by 72.5% during the second quarter, Holdings Channel.com reports. The firm owned 89,533 shares of the company’s stock after selling 236,232 shares during the period. Squarepoint Ops LLC’s holdings in Leonardo DRS were worth $3,820,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Leonardo DRS during the second quarter worth approximately $212,883,000. State Street Corp grew its position in Leonardo DRS by 4.0% during the fourth quarter. State Street Corp now owns 3,988,403 shares of the company’s stock valued at $135,965,000 after purchasing an additional 153,697 shares in the last quarter. California State Teachers Retirement System increased its stake in Leonardo DRS by 3,937.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,940,831 shares of the company’s stock valued at $168,155,000 after buying an additional 3,843,233 shares during the period. AQR Capital Management LLC increased its stake in Leonardo DRS by 77.1% in the 4th quarter. AQR Capital Management LLC now owns 2,255,400 shares of the company’s stock valued at $76,887,000 after buying an additional 981,956 shares during the period. Finally, Stephens Investment Management Group LLC lifted its position in Leonardo DRS by 107.6% in the 1st quarter. Stephens Investment Management Group LLC now owns 2,118,331 shares of the company’s stock worth $94,308,000 after buying an additional 1,098,108 shares in the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. 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 note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.60.

Insiders Place Their Bets

In other Leonardo DRS news, EVP Jason Rinsky sold 3,864 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.81, for a total transaction of $177,009.84. Following the completion of the sale, the executive vice president owned 23,581 shares of the company’s stock, valued at $1,080,245.61. This represents a 14.08% decrease in their ownership of the stock. The sale 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, CEO John Baylouny sold 36,471 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $45.67, for a total value of $1,665,630.57. Following the transaction, the chief executive officer owned 122,435 shares in the company, valued at approximately $5,591,606.45. This trade represents a 22.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,517 shares of company stock valued at $2,773,382 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Leonardo DRS Price Performance

NASDAQ DRS opened at $36.07 on Friday. Leonardo DRS, Inc. has a fifty-two week low of $32.43 and a fifty-two week high of $50.59. The stock’s 50-day moving average is $42.75 and its two-hundred day moving average is $44.01. The firm has a market cap of $9.63 billion, a P/E ratio of 30.31, a price-to-earnings-growth ratio of 2.20 and a beta of 0.35. 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 released its quarterly earnings results 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. 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%.The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. On average, analysts anticipate that Leonardo DRS, Inc. will post 1.39 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

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

Leonardo DRS Profile

Leonardo DRS, Inc is a defense technology company that develops and manufactures advanced products and systems for the U.S. Department of Defense, other government agencies and allied military customers. The company supports land, sea and air platforms as well as command, control, communications, computers, intelligence, surveillance and reconnaissance missions.

Its offerings include electro-optical and infrared sensing systems, network computing and communications equipment, electronic warfare technologies, power and propulsion systems, thermal management solutions, force protection products and advanced battle-management systems.