Leonardo DRS, Inc. $DRS Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its stake in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 3.3% during the 1st quarter, Holdings Channel reports. The fund owned 43,689 shares of the company’s stock after selling 1,471 shares during the quarter. MetLife Investment Management LLC’s holdings in Leonardo DRS were worth $1,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Oliver Luxxe Assets LLC boosted its position in Leonardo DRS by 6.6% during the first quarter. Oliver Luxxe Assets LLC now owns 90,903 shares of the company’s stock worth $2,989,000 after purchasing an additional 5,659 shares in the last quarter. Penn Capital Management Company LLC boosted its position in Leonardo DRS by 225.1% during the first quarter. Penn Capital Management Company LLC now owns 52,549 shares of the company’s stock worth $1,757,000 after purchasing an additional 36,386 shares in the last quarter. Jump Financial LLC purchased a new position in Leonardo DRS during the first quarter worth approximately $970,000. AlphaQuest LLC boosted its position in Leonardo DRS by 396.6% during the first quarter. AlphaQuest LLC now owns 7,047 shares of the company’s stock worth $232,000 after purchasing an additional 5,628 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP purchased a new position in Leonardo DRS during the first quarter worth approximately $3,882,000. Hedge funds and other institutional investors own 18.76% of the company’s stock.

Insider Buying and Selling

In related news, Director David W. Carey sold 6,438 shares of Leonardo DRS stock in a transaction that occurred 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 transaction, the director owned 23,882 shares in the company, valued at approximately $1,097,139.08. This trade represents a 21.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John Baylouny sold 11,375 shares of Leonardo DRS 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 transaction, the chief operating officer owned 125,908 shares in the company, valued at approximately $5,183,632.36. The trade was a 8.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,216 shares of company stock worth $945,342. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DRS. Wall Street Zen downgraded Leonardo DRS from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. JPMorgan Chase & Co. increased their price target on Leonardo DRS from $33.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Truist Financial raised their target price on Leonardo DRS from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, July 11th. The Goldman Sachs Group initiated 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. Finally, Canaccord Genuity Group initiated coverage on Leonardo DRS in a research report on Monday, August 11th. They issued a “buy” rating and a $50.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Leonardo DRS Stock Performance

NASDAQ DRS opened at $41.79 on Thursday. The company has a market cap of $11.12 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.63. The stock’s 50 day simple moving average is $44.25 and its 200-day simple moving average is $39.51. Leonardo DRS, Inc. has a 1-year low of $26.00 and a 1-year 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 announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Leonardo DRS had a return on equity of 11.02% and a net margin of 7.31%.The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $824.50 million. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Leonardo DRS has set its FY 2025 guidance at 1.060-1.110 EPS. As a group, equities research analysts anticipate that Leonardo DRS, Inc. will post 1.04 EPS for the current fiscal year.

Leonardo DRS Announces Dividend

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

Leonardo DRS Company 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.