Leonardo DRS, Inc. (NASDAQ:DRS) CEO Sells $1,471,500.00 in Stock

Leonardo DRS, Inc. (NASDAQ:DRS) CEO William Lynn III sold 45,000 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $32.70, for a total value of $1,471,500.00. Following the completion of the sale, the chief executive officer now owns 328,404 shares in the company, valued at $10,738,810.80. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

William Lynn III also recently made the following trade(s):

• On Friday, January 31st, William Lynn III sold 45,000 shares of Leonardo DRS stock. The shares were sold at an average price of $35.25, for a total transaction of $1,586,250.00.

Leonardo DRS Stock Performance

Shares of Leonardo DRS stock opened at $33.00 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.11 and a quick ratio of 1.70. The firm has a 50 day simple moving average of $32.93 and a 200 day simple moving average of $32.00. Leonardo DRS, Inc. has a fifty-two week low of $19.88 and a fifty-two week high of $37.99. The firm has a market cap of $8.75 billion, a P/E ratio of 41.77, a P/E/G ratio of 1.41 and a beta of 0.98.

Leonardo DRS (NASDAQ:DRS) last released its earnings results on Thursday, February 20th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Leonardo DRS had a return on equity of 10.37% and a net margin of 6.59%. The company had revenue of $981.00 million during the quarter, compared to analysts’ expectations of $942.18 million. Sell-side analysts predict that Leonardo DRS, Inc. will post 1.04 earnings per share for the current fiscal year.

Leonardo DRS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, March 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.09%. Leonardo DRS’s payout ratio is presently 45.57%.

Leonardo DRS announced that its Board of Directors has approved a stock repurchase program on Thursday, February 20th that allows the company to buyback $75.00 million in shares. This buyback authorization allows the company to buy up to 0.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on DRS. Bank of America upgraded shares of Leonardo DRS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, March 7th. JPMorgan Chase & Co. increased their price target on Leonardo DRS from $32.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Finally, Truist Financial lifted their price objective on Leonardo DRS from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.83.

Institutional Investors Weigh In On Leonardo DRS

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC grew its holdings in Leonardo DRS by 1.1% during the 3rd quarter. Cerity Partners LLC now owns 34,051 shares of the company’s stock worth $961,000 after acquiring an additional 354 shares during the period. Bank of Montreal Can grew its stake in shares of Leonardo DRS by 2.1% during the fourth quarter. Bank of Montreal Can now owns 18,380 shares of the company’s stock worth $594,000 after purchasing an additional 379 shares during the period. CIBC Asset Management Inc increased its holdings in Leonardo DRS by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 8,060 shares of the company’s stock valued at $260,000 after purchasing an additional 405 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Leonardo DRS by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 33,960 shares of the company’s stock valued at $958,000 after buying an additional 435 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in Leonardo DRS by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,702 shares of the company’s stock worth $249,000 after buying an additional 489 shares during the last quarter. 18.76% of the stock is owned by institutional investors.

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.