Spire Wealth Management Purchases Shares of 2,000 Leonardo DRS, Inc. $DRS

Spire Wealth Management purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,000 shares of the company’s stock, valued at approximately $93,000.

Several other large investors have also made changes to their positions in the business. Hsbc Holdings PLC grew its holdings in Leonardo DRS by 4.0% in the 1st quarter. Hsbc Holdings PLC now owns 9,191 shares of the company’s stock valued at $298,000 after buying an additional 357 shares during the last quarter. Total Clarity Wealth Management Inc. boosted its position in shares of Leonardo DRS by 7.7% in the second quarter. Total Clarity Wealth Management Inc. now owns 7,169 shares of the company’s stock valued at $333,000 after acquiring an additional 514 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Leonardo DRS in the second quarter worth $26,000. Nisa Investment Advisors LLC increased its position in Leonardo DRS by 92.3% during the first quarter. Nisa Investment Advisors LLC now owns 1,273 shares of the company’s stock worth $42,000 after acquiring an additional 611 shares during the period. Finally, Oliver Luxxe Assets LLC raised its stake in Leonardo DRS by 0.7% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 91,527 shares of the company’s stock valued at $4,254,000 after purchasing an additional 624 shares during the last quarter. Institutional investors and hedge funds own 18.76% of the company’s stock.

Leonardo DRS Stock Performance

Leonardo DRS stock opened at $35.76 on Thursday. The firm has a market capitalization of $9.51 billion, a P/E ratio of 36.49, a P/E/G ratio of 2.02 and a beta of 0.56. The stock has a fifty day moving average price of $41.53 and a two-hundred day moving average price of $42.51. Leonardo DRS, Inc. has a 52-week low of $28.17 and a 52-week high of $49.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The business had revenue of $960.00 million for the quarter, compared to analyst estimates of $924.79 million. Leonardo DRS had a net margin of 7.43% and a return on equity of 11.45%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 EPS. Leonardo DRS has set its FY 2025 guidance at 1.070-1.120 EPS. As a group, analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.0%. Leonardo DRS’s dividend payout ratio (DPR) is presently 36.73%.

Insider Activity

In other news, CFO Michael Dippold sold 19,360 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $41.65, for a total value of $806,344.00. Following the transaction, the chief financial officer directly owned 58,834 shares of the company’s stock, valued at $2,450,436.10. The trade was a 24.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric Salzman sold 4,403 shares of the firm’s 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 sale, the director directly owned 11,820 shares of the company’s stock, valued at $486,629.40. This represents a 27.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 55,039 shares of company stock worth $2,303,587. Insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DRS. Morgan Stanley raised their price target on shares of Leonardo DRS from $44.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Leonardo DRS in a research note on Wednesday, October 8th. Truist Financial lowered their price target on Leonardo DRS from $49.00 to $47.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Zacks Research cut Leonardo DRS from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price objective on shares of Leonardo DRS in a report on Thursday, October 30th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Leonardo DRS has an average rating of “Moderate Buy” and a consensus price target of $47.14.

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.