Leonardo DRS, Inc. (NASDAQ:DRS) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 92.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,273 shares of the company’s stock after purchasing an additional 611 shares during the period. Nisa Investment Advisors LLC’s holdings in Leonardo DRS were worth $42,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DRS. FMR LLC raised its position in shares of Leonardo DRS by 183.2% during the 4th quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after acquiring an additional 2,236,661 shares in the last quarter. Norges Bank acquired a new stake in shares of Leonardo DRS during the 4th quarter worth about $24,920,000. JPMorgan Chase & Co. raised its position in shares of Leonardo DRS by 261.6% during the 4th quarter. JPMorgan Chase & Co. now owns 621,506 shares of the company’s stock worth $20,081,000 after acquiring an additional 449,642 shares in the last quarter. Bank of America Corp DE raised its position in shares of Leonardo DRS by 142.1% during the 4th quarter. Bank of America Corp DE now owns 522,888 shares of the company’s stock worth $16,895,000 after acquiring an additional 306,940 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Leonardo DRS by 21.2% during the 4th quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock worth $51,505,000 after acquiring an additional 278,541 shares in the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on DRS. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $33.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Morgan Stanley lifted 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. Truist Financial lifted their target price on Leonardo DRS from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, July 11th. The Goldman Sachs Group started coverage on Leonardo DRS in a research note on Monday, June 30th. They issued a “buy” rating and a $49.00 target price on the stock. Finally, Wall Street Zen downgraded Leonardo DRS from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.86.

Insiders Place Their Bets

In other Leonardo DRS news, Director David W. Carey sold 6,438 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $45.94, for a total transaction of $295,761.72. Following the transaction, the director owned 23,882 shares of the company’s stock, valued at $1,097,139.08. This trade represents a 21.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

Leonardo DRS Stock Performance

NASDAQ DRS opened at $48.13 on Friday. The business’s 50-day moving average price is $44.28 and its 200 day moving average price is $37.60. Leonardo DRS, Inc. has a twelve month low of $22.73 and a twelve month high of $49.09. The company has a market capitalization of $12.80 billion, a PE ratio of 55.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.63. The company has a current ratio of 2.02, a quick ratio of 1.64 and a debt-to-equity ratio of 0.13.

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

Leonardo DRS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were paid a dividend of $0.09 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.75%. Leonardo DRS’s dividend payout ratio (DPR) is presently 41.38%.

Leonardo DRS 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.