Leonardo DRS, Inc. $DRS Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,191 shares of the company’s stock after purchasing an additional 357 shares during the quarter. Hsbc Holdings PLC’s holdings in Leonardo DRS were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in DRS. Nuveen LLC acquired a new stake in shares of Leonardo DRS during the 1st quarter worth approximately $31,254,000. Lord Abbett & CO. LLC raised its position in shares of Leonardo DRS by 116.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 799,661 shares of the company’s stock worth $26,292,000 after purchasing an additional 429,922 shares during the period. 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 purchasing an additional 306,940 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Leonardo DRS during the 4th quarter worth approximately $5,454,000. Finally, Algert Global LLC raised its position in shares of Leonardo DRS by 54.9% during the 1st quarter. Algert Global LLC now owns 391,723 shares of the company’s stock worth $12,880,000 after purchasing an additional 138,758 shares during the period. 18.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DRS has been the topic of a number of research reports. Canaccord Genuity Group initiated coverage on Leonardo DRS in a research report on Monday, August 11th. They set a “buy” rating and a $50.00 price target on the stock. Truist Financial increased their price target on Leonardo DRS from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. The Goldman Sachs Group assumed coverage on Leonardo DRS in a research report on Monday, June 30th. They issued a “buy” rating and a $49.00 target price on the stock. Morgan Stanley raised their target price on Leonardo DRS from $44.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen cut Leonardo DRS from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Six equities 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, the company has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Leonardo DRS Stock Performance

Shares of NASDAQ DRS opened at $41.79 on Thursday. The stock has a fifty day moving average price of $44.25 and a two-hundred day moving average price of $39.51. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.70 and a current ratio of 2.11. The firm has a market cap of $11.12 billion, a P/E ratio of 44.94, a PEG ratio of 2.17 and a beta of 0.63. Leonardo DRS, Inc. has a 1 year low of $26.00 and a 1 year high of $49.31.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $824.50 million. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. Research analysts forecast that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

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

Insider Buying and Selling at Leonardo DRS

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 transaction of $295,761.72. Following the completion of the transaction, the director directly owned 23,882 shares of the company’s stock, valued at approximately $1,097,139.08. This trade represents a 21.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eric Salzman sold 4,403 shares of the stock in a transaction 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 transaction, the director directly owned 11,820 shares of the company’s stock, valued at approximately $486,629.40. The trade was a 27.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,216 shares of company stock valued at $945,342. 0.12% of the stock is owned by corporate 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.