Teacher Retirement System of Texas Cuts Stock Holdings in Leonardo DRS, Inc. $DRS

Teacher Retirement System of Texas cut its stake in Leonardo DRS, Inc. (NASDAQ:DRS) by 89.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,883 shares of the company’s stock after selling 260,514 shares during the period. Teacher Retirement System of Texas’ holdings in Leonardo DRS were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in DRS. Vanguard Group Inc. lifted its position in 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 buying an additional 22,990 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Leonardo DRS by 16.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,848,473 shares of the company’s stock worth $192,298,000 after buying an additional 804,938 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Leonardo DRS by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,096,885 shares of the company’s stock worth $36,066,000 after buying an additional 8,516 shares in the last quarter. Nuveen LLC purchased a new position in Leonardo DRS during the first quarter worth approximately $31,254,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Leonardo DRS by 1.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 894,122 shares of the company’s stock worth $29,399,000 after purchasing an additional 13,911 shares during the last quarter. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Analyst Ratings Changes

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

Leonardo DRS Trading Down 1.1%

DRS opened at $35.76 on Thursday. Leonardo DRS, Inc. has a 52 week low of $28.17 and a 52 week high of $49.31. The company has a quick ratio of 1.70, a current ratio of 2.11 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $41.53 and a 200-day simple moving average of $42.51. The firm has a market cap 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.

Leonardo DRS (NASDAQ:DRS) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Leonardo DRS had a return on equity of 11.45% and a net margin of 7.43%.The business had revenue of $960.00 million during the quarter, compared to analysts’ expectations of $924.79 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. Leonardo DRS has set its FY 2025 guidance at 1.070-1.120 EPS. On average, equities analysts expect that Leonardo DRS, Inc. will post 1.04 earnings per share for the current year.

Leonardo DRS Announces Dividend

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 paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. Leonardo DRS’s payout ratio is presently 36.73%.

Insider Activity

In other news, CFO Michael Dippold sold 19,360 shares of Leonardo DRS stock in a transaction 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 completion of the sale, the chief financial officer directly owned 58,834 shares of the company’s stock, valued at approximately $2,450,436.10. The trade was a 24.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Baylouny sold 8,481 shares of Leonardo DRS stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $43.69, for a total value of $370,534.89. Following the completion of the sale, the chief operating officer directly owned 106,007 shares of the company’s stock, valued at $4,631,445.83. The trade was a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 55,039 shares of company stock valued at $2,303,587. 0.12% of the stock is currently 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.