Natixis Advisors LLC Trims Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Natixis Advisors LLC cut its position in Leonardo DRS, Inc. (NASDAQ:DRS) by 54.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,265 shares of the company’s stock after selling 16,879 shares during the quarter. Natixis Advisors LLC’s holdings in Leonardo DRS were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of DRS. GSA Capital Partners LLP purchased a new position in Leonardo DRS in the 1st quarter worth approximately $785,000. LPL Financial LLC lifted its holdings in Leonardo DRS by 59.0% during the first quarter. LPL Financial LLC now owns 135,813 shares of the company’s stock valued at $4,466,000 after purchasing an additional 50,390 shares in the last quarter. MRP Capital Investments LLC lifted its holdings in Leonardo DRS by 1.9% during the first quarter. MRP Capital Investments LLC now owns 45,635 shares of the company’s stock valued at $1,500,000 after purchasing an additional 850 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Leonardo DRS by 7.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,358 shares of the company’s stock valued at $1,031,000 after buying an additional 2,071 shares in the last quarter. Finally, Csenge Advisory Group purchased a new stake in Leonardo DRS during the 1st quarter valued at approximately $222,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Insider Buying and Selling at Leonardo DRS

In related news, Director David W. Carey sold 6,438 shares of the company’s 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 sale, the director directly owned 23,882 shares of the company’s stock, valued at approximately $1,097,139.08. This represents a 21.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Performance

Shares of DRS stock opened at $41.58 on Tuesday. The stock has a fifty day moving average price of $45.16 and a 200 day moving average price of $38.71. The stock has a market cap of $11.07 billion, a PE ratio of 44.71, a P/E/G ratio of 2.33 and a beta of 0.65. Leonardo DRS, Inc. has a 1 year low of $26.00 and a 1 year high of $49.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.01. The company had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. Sell-side analysts forecast that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.9%. Leonardo DRS’s dividend payout ratio (DPR) is presently 38.71%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Canaccord Genuity Group began coverage on Leonardo DRS in a report on Monday. They issued a “buy” rating and a $50.00 target price for the company. BTIG Research set a $49.00 price target on Leonardo DRS and gave the stock a “buy” rating in a report on Monday, May 5th. Morgan Stanley boosted their price target on Leonardo DRS from $44.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, July 31st. The Goldman Sachs Group initiated coverage on Leonardo DRS in a report on Monday, June 30th. They set a “buy” rating and a $49.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $33.00 to $48.00 and gave the company a “neutral” rating in a research report on Monday, June 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.75.

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.