The Manufacturers Life Insurance Company Makes New Investment in Leonardo DRS, Inc. $DRS

The Manufacturers Life Insurance Company purchased a new stake in Leonardo DRS, Inc. (NASDAQ:DRS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,760 shares of the company’s stock, valued at approximately $1,227,000.

A number of other hedge funds have also recently made changes to their positions in DRS. Bank of Montreal Can increased its holdings in shares of Leonardo DRS by 1.6% in the fourth quarter. Bank of Montreal Can now owns 19,513 shares of the company’s stock worth $665,000 after purchasing an additional 309 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Leonardo DRS by 4.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,228 shares of the company’s stock valued at $246,000 after buying an additional 322 shares during the period. Osaic Holdings Inc. boosted its stake in Leonardo DRS by 17.0% during the second quarter. Osaic Holdings Inc. now owns 2,383 shares of the company’s stock valued at $111,000 after buying an additional 347 shares during the period. Stephens Inc. AR grew its position in Leonardo DRS by 3.3% during the fourth quarter. Stephens Inc. AR now owns 12,165 shares of the company’s stock worth $415,000 after buying an additional 389 shares in the last quarter. Finally, Cibc World Market Inc. grew its position in Leonardo DRS by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 7,128 shares of the company’s stock worth $243,000 after buying an additional 425 shares in the last quarter. 18.76% of the stock is currently owned by hedge funds and other institutional investors.

Leonardo DRS Stock Down 1.1%

DRS opened at $36.60 on Friday. The stock has a market cap of $9.77 billion, a PE ratio of 30.76, a P/E/G ratio of 2.25 and a beta of 0.35. The company has a quick ratio of 1.56, a current ratio of 1.92 and a debt-to-equity ratio of 0.05. Leonardo DRS, Inc. has a 52 week low of $32.43 and a 52 week high of $50.59. The business’s fifty day simple moving average is $43.38 and its 200 day simple moving average is $44.12.

Leonardo DRS (NASDAQ:DRS) last released its quarterly earnings results on Friday, July 31st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Leonardo DRS had a return on equity of 12.97% and a net margin of 8.52%.The business had revenue of $913.00 million for the quarter, compared to the consensus estimate of $903.27 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts expect that Leonardo DRS, Inc. will post 1.39 earnings per share for the current fiscal year.

Leonardo DRS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 13th. Leonardo DRS’s dividend payout ratio (DPR) is currently 30.25%.

Insider Transactions at Leonardo DRS

In related news, EVP Sally Wallace sold 1,300 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $50.00, for a total value of $65,000.00. Following the completion of the sale, the executive vice president owned 57,053 shares in the company, valued at $2,852,650. The trade was a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Dippold sold 20,317 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $37.18, for a total value of $755,386.06. Following the completion of the sale, the chief financial officer directly owned 35,143 shares of the company’s stock, valued at approximately $1,306,616.74. This represents a 36.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 74,135 shares of company stock valued at $3,225,002. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Weiss Ratings upgraded Leonardo DRS from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Leonardo DRS from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised Leonardo DRS from a “hold” rating to a “buy” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.60.

Leonardo DRS Company Profile

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.