Leonardo, a US partner pops up: the American Capital Group rakes in 3%.
The US fund buys on the back of the business plan after the stock has already doubled in value in 12 months and hit a high of EUR 17.44
1' min read
1' min read
Leonardo's stock doubled its value in 2023, rose another 15% in the first days of 2024, and touched a high of €17.44 per share last Monday (the price was at €8.2 12 months ago). Despite this, there are still some people betting on the stock: Capital Group Companies, one of the largest international investors with assets under management in excess of $2.3 trillion, has entered the capital of the group led by Roberto Cingolani, coming to hold a stake of over 3%.
The new US shareholder
.US Capital Group Companies is the holding company that controls Capital Research and Management Company (CRMC), a management company that acts as investment manager for a group of American Funds mutual funds. The position built in Leonardo is a significant sign of confidence that comes on the heels of the industrial plan to be unveiled on 11 March. This foreign interest in the Italian defence giant's strategy also follows Leonardo's recent alliance with Germany's Knds, to create a leading European defence group, and the order obtained by its Nasdaq-listed subsidiary Leonardo DRS for over $3 billion for the US Navy's Columbia class submarine programme.
