BlackRock Inc. acquired 4,989,059 shares of Leonardo DRS during the second quarter. The new position is valued at approximately $212.88 million according to SEC filings. This purchase gives BlackRock a 1.87% stake in the defense electronics firm.
Total institutional ownership of Leonardo DRS now stands at 18.76%. The company recently exceeded analyst expectations for both revenue and earnings per share.
Analysts maintain a Moderate Buy consensus rating on the stock. Leonardo DRS paid a quarterly dividend of $0.09 per share on August 27.