28,760 Shares in Leonardo DRS, Inc. $DRS Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in Leonardo DRS, Inc. (NASDAQ:DRS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 28,760 shares of the company’s stock, valued at approximately $1,227,000.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its position in shares of Leonardo DRS by 7,041.7% during the 4th quarter. Quarry LP now owns 857 shares of the company’s stock valued at $29,000 after purchasing an additional 845 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Leonardo DRS during the second quarter worth about $31,000. Edmond DE Rothschild Holding S.A. bought a new stake in Leonardo DRS in the second quarter worth about $32,000. Leonteq Securities AG bought a new stake in Leonardo DRS in the fourth quarter worth about $34,000. Finally, Fifth Third Bancorp purchased a new position in Leonardo DRS in the first quarter valued at about $41,000. Institutional investors own 18.76% of the company’s stock.

Insider Buying and Selling

In other news, CEO John Baylouny sold 36,471 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $45.67, for a total value of $1,665,630.57. Following the completion of the transaction, the chief executive officer directly owned 122,435 shares of the company’s stock, valued at $5,591,606.45. This trade represents a 22.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Leonardo DRS 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 transaction, the executive vice president owned 57,053 shares of the company’s stock, valued at approximately $2,852,650. This trade represents a 2.23% 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 74,135 shares of company stock valued at $3,225,002 over the last three months. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Leonardo DRS Stock Performance

NASDAQ DRS opened at $36.60 on Friday. The company’s 50 day moving average is $43.38 and its 200-day moving average is $44.12. Leonardo DRS, Inc. has a 12-month low of $32.43 and a 12-month high of $50.59. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. The firm has a market cap of $9.77 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 2.25 and a beta of 0.35.

Leonardo DRS (NASDAQ:DRS) last released 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 company had revenue of $913.00 million during the quarter, compared to the consensus estimate of $903.27 million. During the same period last year, the firm earned $0.23 EPS. Leonardo DRS’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts predict that Leonardo DRS, Inc. will post 1.39 earnings per share for the current year.

Leonardo DRS Announces Dividend

The business also recently announced 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 was Thursday, August 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Leonardo DRS’s dividend payout ratio is currently 30.25%.

About Leonardo DRS

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.