Northern Trust Corp Sells 10,880 Shares of Leonardo DRS, Inc. $DRS

Northern Trust Corp decreased its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 1.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 765,383 shares of the company’s stock after selling 10,880 shares during the period. Northern Trust Corp owned approximately 0.29% of Leonardo DRS worth $25,166,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Yorktown Management & Research Co Inc purchased a new stake in shares of Leonardo DRS during the first quarter worth about $260,000. Ameriprise Financial Inc. purchased a new stake in shares of Leonardo DRS during the fourth quarter worth about $344,000. Vanguard Group Inc. grew its stake in shares of Leonardo DRS by 0.3% during the first quarter. Vanguard Group Inc. now owns 7,957,909 shares of the company’s stock worth $261,656,000 after acquiring an additional 22,990 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Leonardo DRS during the fourth quarter worth about $503,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Leonardo DRS by 172.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 17,971 shares of the company’s stock worth $591,000 after acquiring an additional 11,381 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DRS. The Goldman Sachs Group began coverage on Leonardo DRS in a research note on Monday, June 30th. They set a “buy” rating and a $49.00 price target on the stock. Canaccord Genuity Group began coverage on Leonardo DRS in a report on Monday, August 11th. They set a “buy” rating and a $50.00 target price for the company. BTIG Research set a $49.00 target price on Leonardo DRS and gave the stock a “buy” rating in a report on Monday, May 5th. Morgan Stanley lifted their target price on Leonardo DRS from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Leonardo DRS from $33.00 to $48.00 and gave the stock a “neutral” rating in a report on Monday, June 16th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Leonardo DRS has a consensus rating of “Moderate Buy” and an average price target of $46.75.

Insider Buying and Selling at Leonardo DRS

In other Leonardo DRS news, COO John Baylouny sold 11,375 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $41.17, for a total value of $468,308.75. Following the sale, the chief operating officer directly owned 125,908 shares of the company’s stock, valued at approximately $5,183,632.36. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eric Salzman sold 4,403 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $41.17, for a total value of $181,271.51. Following the completion of the transaction, the director owned 11,820 shares in the company, valued at approximately $486,629.40. This trade represents a 27.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,216 shares of company stock valued at $945,342. Company insiders own 0.12% of the company’s stock.

Leonardo DRS Stock Down 1.9%

Shares of DRS stock opened at $41.66 on Monday. The stock has a 50 day moving average of $44.36 and a 200 day moving average of $39.39. The company has a current ratio of 2.11, a quick ratio of 1.70 and a debt-to-equity ratio of 0.13. The stock has a market cap of $11.09 billion, a P/E ratio of 44.80, a P/E/G ratio of 2.17 and a beta of 0.63. Leonardo DRS, Inc. has a twelve month low of $26.00 and a twelve month high of $49.31.

Leonardo DRS (NASDAQ:DRS) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share 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 return on equity of 11.02% and a net margin of 7.31%.Leonardo DRS’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.18 earnings per share. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, sell-side analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

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

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.