Eagle Global Advisors LLC Grows Stock Holdings in Leonardo DRS, Inc. (NASDAQ:DRS)

Eagle Global Advisors LLC raised its holdings in shares of Leonardo DRS, Inc. (NASDAQ:DRS) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,000 shares of the company’s stock after buying an additional 5,000 shares during the period. Eagle Global Advisors LLC’s holdings in Leonardo DRS were worth $3,189,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Leonardo DRS by 183.2% in the fourth quarter. FMR LLC now owns 3,457,612 shares of the company’s stock worth $111,715,000 after purchasing an additional 2,236,661 shares during the period. Nuveen LLC bought a new position in shares of Leonardo DRS during the first quarter worth $31,254,000. Bank of America Corp DE boosted its position in shares of Leonardo DRS by 142.1% during the fourth quarter. Bank of America Corp DE now owns 522,888 shares of the company’s stock worth $16,895,000 after acquiring an additional 306,940 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Leonardo DRS by 21.2% during the fourth quarter. First Trust Advisors LP now owns 1,594,092 shares of the company’s stock worth $51,505,000 after acquiring an additional 278,541 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of Leonardo DRS by 580.0% during the fourth quarter. Algert Global LLC now owns 252,965 shares of the company’s stock worth $8,173,000 after acquiring an additional 215,765 shares during the last quarter. 18.76% of the stock is owned by hedge funds and other institutional investors.

Leonardo DRS Trading Up 0.6%

Shares of DRS opened at $41.49 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.11 and a quick ratio of 1.70. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 2.33 and a beta of 0.65. The company has a 50-day moving average of $45.21 and a 200 day moving average of $38.68. Leonardo DRS, Inc. has a 1-year low of $26.00 and a 1-year high of $49.31.

Leonardo DRS (NASDAQ:DRS) last posted its earnings results on Wednesday, July 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $824.50 million. Leonardo DRS had a net margin of 7.31% and a return on equity of 11.02%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. On average, research analysts expect that Leonardo DRS, Inc. will post 1.04 EPS for the current year.

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, August 20th. Leonardo DRS’s payout ratio is 38.71%.

Wall Street Analyst Weigh In

DRS has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Leonardo DRS from $33.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, June 16th. Morgan Stanley increased their target price on shares of Leonardo DRS from $44.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. BTIG Research set a $49.00 target price on shares of Leonardo DRS and gave the stock a “buy” rating in a report on Monday, May 5th. Truist Financial raised their target price on shares of Leonardo DRS from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, Wall Street Zen lowered shares of Leonardo DRS from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.29.

Insider Activity at Leonardo DRS

In related news, Director David W. Carey sold 6,438 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.94, for a total transaction of $295,761.72. Following the completion of the transaction, the director owned 23,882 shares in the company, valued at $1,097,139.08. The trade was a 21.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.12% of the stock is currently owned by company 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.