GAMMA Investing LLC Grows Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

GAMMA Investing LLC boosted its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 5,230.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,554 shares of the company’s stock after acquiring an additional 10,356 shares during the quarter. GAMMA Investing LLC’s holdings in Leonardo DRS were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DRS. Steward Partners Investment Advisory LLC boosted its holdings in Leonardo DRS by 233.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $32,000 after acquiring an additional 700 shares during the period. IFP Advisors Inc boosted its stake in shares of Leonardo DRS by 37.0% during the 4th quarter. IFP Advisors Inc now owns 1,944 shares of the company’s stock valued at $63,000 after buying an additional 525 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in shares of Leonardo DRS during the 4th quarter valued at approximately $116,000. Sequoia Financial Advisors LLC purchased a new position in shares of Leonardo DRS during the 4th quarter valued at approximately $219,000. Finally, Mariner LLC purchased a new position in shares of Leonardo DRS during the 4th quarter valued at approximately $222,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Wall Street Analyst Weigh In

DRS has been the subject of several research analyst reports. Bank of America upgraded Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their target price on Leonardo DRS from $33.00 to $48.00 and gave the company a “neutral” rating in a research note on Monday, June 16th. Truist Financial increased their target price on Leonardo DRS from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. BTIG Research set a $49.00 target price on Leonardo DRS and gave the company a “buy” rating in a research note on Monday, May 5th. Finally, Morgan Stanley increased their target price on Leonardo DRS from $34.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Leonardo DRS has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Leonardo DRS Stock Performance

DRS stock opened at $44.00 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $11.71 billion, a P/E ratio of 50.58, a P/E/G ratio of 2.57 and a beta of 0.63. Leonardo DRS, Inc. has a 12-month low of $22.73 and a 12-month high of $46.96. The stock’s 50 day simple moving average is $40.99 and its 200 day simple moving average is $35.83.

Leonardo DRS (NASDAQ:DRS) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The business had revenue of $799.00 million for the quarter, compared to analyst estimates of $736.72 million. Leonardo DRS had a return on equity of 10.63% and a net margin of 7.00%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. As a group, equities research analysts predict that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS’s dividend payout ratio is presently 41.38%.

Insiders Place Their Bets

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the sale, the director now directly owns 23,882 shares of the company’s stock, valued at $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Baylouny sold 3,529 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $31.96, for a total value of $112,786.84. Following the transaction, the chief operating officer now directly owns 137,283 shares in the company, valued at $4,387,564.68. This trade represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Leonardo DRS Company Profile

Leonardo DRS, Inc, together with its subsidiaries, provides defense electronic products and systems, and military support services. It operates through Advanced Sensing and Computing (ASC) segment, and Integrated Mission Systems (IMS) segments. The ASC segment designs, develops, and manufacture sensing and network computing technology that enables real-time situational awareness required for enhanced operational decision making and execution; and offers sensing capabilities span applications, such as missions requiring advanced detection, precision targeting and surveillance sensing, long range electro-optic/infrared, signals intelligence, and other intelligence systems including electronic warfare, ground vehicle sensing, active electronically scanned array tactical radars, dismounted soldier, and space sensing.