Principal Financial Group Inc. Decreases Stock Position in Leonardo DRS, Inc. (NASDAQ:DRS)

Principal Financial Group Inc. lessened its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 34.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 53,083 shares of the company’s stock after selling 27,400 shares during the period. Principal Financial Group Inc.’s holdings in Leonardo DRS were worth $1,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cerity Partners LLC grew its position in shares of Leonardo DRS by 1.1% during the 4th quarter. Cerity Partners LLC now owns 34,410 shares of the company’s stock worth $1,112,000 after buying an additional 359 shares in the last quarter. Bank of Montreal Can raised its stake in Leonardo DRS by 2.1% in the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock valued at $594,000 after buying an additional 379 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in Leonardo DRS by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock valued at $249,000 after buying an additional 489 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Leonardo DRS by 5.0% in the fourth quarter. Rafferty Asset Management LLC now owns 18,952 shares of the company’s stock valued at $612,000 after buying an additional 900 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Leonardo DRS by 0.9% in the fourth quarter. Swiss National Bank now owns 155,600 shares of the company’s stock worth $5,027,000 after purchasing an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Leonardo DRS Stock Down 0.4%

DRS opened at $48.13 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.02 and a quick ratio of 1.64. The business has a 50 day simple moving average of $44.28 and a 200-day simple moving average of $37.60. The stock has a market capitalization of $12.80 billion, a P/E ratio of 55.32, a P/E/G ratio of 2.79 and a beta of 0.63. Leonardo DRS, Inc. has a 12 month low of $22.73 and a 12 month high of $49.09.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. Leonardo DRS had a return on equity of 10.63% and a net margin of 7.00%. The firm had revenue of $799.00 million during the quarter, compared to analysts’ expectations of $736.72 million. During the same period in the previous year, the firm posted $0.14 earnings per share. Leonardo DRS’s revenue was up 16.1% on a year-over-year basis. On average, equities analysts anticipate that Leonardo DRS, Inc. will post 1.04 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, June 5th. Stockholders of record on Thursday, May 22nd were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 22nd. Leonardo DRS’s payout ratio is 41.38%.

Analysts Set New Price Targets

DRS has been the subject of several recent research reports. Truist Financial lifted their price target on Leonardo DRS from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, July 11th. BTIG Research set a $49.00 price target on Leonardo DRS and gave the company a “buy” rating in a research report on Monday, May 5th. The Goldman Sachs Group assumed coverage on Leonardo DRS in a research report on Monday, June 30th. They set a “buy” rating and a $49.00 price target for the company. Wall Street Zen cut Leonardo DRS from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Morgan Stanley boosted their price objective on Leonardo DRS from $34.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.86.

Insider Buying and Selling at Leonardo DRS

In related news, Director David W. Carey sold 6,438 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.94, for a total value of $295,761.72. Following the transaction, the director owned 23,882 shares in the company, valued at approximately $1,097,139.08. The trade was a 21.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

About Leonardo DRS

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.