Citigroup Inc. Reduces Holdings in Leonardo DRS, Inc. $DRS

Citigroup Inc. reduced its position in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,029 shares of the company’s stock after selling 27,986 shares during the period. Citigroup Inc.’s holdings in Leonardo DRS were worth $5,359,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in Leonardo DRS by 122.6% during the 3rd quarter. True Wealth Design LLC now owns 541 shares of the company’s stock worth $25,000 after buying an additional 298 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Leonardo DRS by 91.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 575 shares of the company’s stock valued at $27,000 after acquiring an additional 275 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Leonardo DRS by 72.2% during the third quarter. GAMMA Investing LLC now owns 751 shares of the company’s stock worth $34,000 after acquiring an additional 315 shares during the last quarter. UMB Bank n.a. purchased a new stake in shares of Leonardo DRS during the third quarter worth about $45,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Leonardo DRS by 435.0% in the third quarter. PNC Financial Services Group Inc. now owns 1,161 shares of the company’s stock worth $53,000 after acquiring an additional 944 shares in the last quarter. 18.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Michael Dippold sold 10,588 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $37.00, for a total transaction of $391,756.00. Following the sale, the chief financial officer directly owned 42,952 shares in the company, valued at approximately $1,589,224. This represents a 19.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sally Wallace sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $35.17, for a total value of $45,721.00. Following the completion of the sale, the executive vice president directly owned 58,353 shares in the company, valued at approximately $2,052,275.01. This trade represents a 2.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DRS. Wall Street Zen lowered Leonardo DRS from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley set a $47.00 price target on shares of Leonardo DRS in a research note on Wednesday, February 25th. Truist Financial set a $59.00 price target on shares of Leonardo DRS in a report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Leonardo DRS in a research note on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.86.

Leonardo DRS Stock Performance

DRS stock opened at $45.51 on Wednesday. The stock’s 50 day simple moving average is $39.59 and its 200 day simple moving average is $39.06. Leonardo DRS, Inc. has a 12-month low of $28.17 and a 12-month high of $49.31. The firm has a market cap of $12.11 billion, a P/E ratio of 44.18, a P/E/G ratio of 2.26 and a beta of 0.41. The company has a current ratio of 2.00, a quick ratio of 1.63 and a debt-to-equity ratio of 0.12.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $994.79 million. Leonardo DRS had a net margin of 7.62% and a return on equity of 11.82%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. Leonardo DRS has set its FY 2026 guidance at 1.200-1.260 EPS. As a group, equities research analysts predict 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 Tuesday, March 24th. Investors of record on Tuesday, March 10th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, March 10th. Leonardo DRS’s dividend payout ratio is currently 34.95%.

About Leonardo DRS

Leonardo DRS is a U.S.-based defense technology company and wholly owned subsidiary of Italy’s Leonardo S.p.A. The firm specializes in developing and integrating mission-critical systems for military and government customers, with a primary focus on command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR). Its core offerings encompass advanced sensors, targeting systems, radars and electronic warfare solutions designed to enhance situational awareness and operational effectiveness across land, sea and air domains.

The company’s portfolio includes naval combat management systems, unmanned vehicle sensors, power generation and distribution equipment, and training and simulation solutions.